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- W3102863820 abstract "Greece has often attracted negative attention in terms of the state of its public finances. The chapter shows that the lack of effective fiscal institutions and the weak monitoring of public finance developments are major factors that did not prevent fiscal derailment even within the context of the EU fiscal rules. It outlines the basic legal framework for fiscal policy in Greece, with respect to, for example, the legislature’s role in budget approval, the in-year parliamentary oversight of budget execution, problems of audit and accountability and, until recently, the lack of alignment of budgets with medium-term government fiscal targets. The chapter explores how these weaknesses have been reformed within the EU fiscal framework and, more recently, as a result of the impact of external intervention. Sound fiscal management is necessary, not only to prevent unsustainable fiscal deficits, but also for the more efficient allocation of resources and to enhance democratic control. Further developments on this front hinge directly on efforts to build up institutional capacity on the fiscal front domestically and on the outcome of recent debates at the EU level regarding the legitimacy and enhancement of democratic control of its institutions." @default.
- W3102863820 created "2020-11-23" @default.
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- W3102863820 date "2020-10-08" @default.
- W3102863820 modified "2023-09-25" @default.
- W3102863820 title "The Politics of the Public Finances" @default.
- W3102863820 doi "https://doi.org/10.1093/oxfordhb/9780198825104.013.30" @default.
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