FEMISE is launching its new Policy Brief series MED BRIEF aspiring to provide Forward Thinking for the EuroMediterranean region. The briefs contain succinct, policy-oriented analysis of relevant EuroMed issues, presenting the views of FEMISE researchers and collaborators to policy-makers.
This policy brief looks at the issue of fiscal and macroeconomic sustainability in the European Union’s (EU) countries of Greece, Ireland, Italy, Portugal and Spain and a subset of Mediterranean Partners (MPs) Egypt, Jordan, Morocco, Tunisia, and Lebanon. It answers the following question: How can the EU and MED countries in financial and debt crises curb macroeconomic imbalances (huge public debt, budget and current account deficits) at a time of low economic growth, high unemployment rates, rising inflation, and rising social demands for inclusion? Finally, this policy brief assesses past implemented International Monetary Fund (IMF) macroeconomic policies in light of the various austerity measures that have been introduced, and offers alternative potential macroeconomic policy solutions and remedies.
The policy brief has been produced with the financial assistance of the European Union within the context of the FEMISE program. The contents of this document are the sole responsibility of the authors and can under no circumstances be regarded as reflecting the position of the European Union.