28 Oct 2010

The EU should harness domestic politics, not fines, to bring deficits into line

John Bruton

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This Commentary identifies several key weaknesses and oversights implicit in the proposals on the table at the October 2010 European Council summit to discipline EU member states whose governments exceed EU deficit or debt limits. As a more effective alternative, the author proposes enlisting the power of opposition parties and the bond markets curb such excesses.
John Bruton is a member of the CEPS Board of Directors. He served as Taoiseach (prime minister) of Ireland from 1994 to 1997 and as the Ambassador of the European Union to the United States from 2004–09.