债务危机背景下欧盟财政一体化的进展与挑战

The Progress and Challenge of EU's Fiscal Integration in the Debt Crisis

关于主权债务危机的成因,经济学家较集中的论断是欧元区成员国在货币一体化的同时缺乏财政一体化。然而,在被认为是欧盟推进财政一体化重要举措的财政契约签订后,主权债务危机的阴影继续蔓延至西班牙和塞浦路斯。如何评价财政契约对财政一体化的影响,财政一体化对缓解债务危机有什么作用,本文从财政职能、经济增长和危机根源等角度进行了深入的分析,并指出财政契约和今后的财政一体化进程都将在众多挑战中艰难推进。

The absence of fiscal integration with monetary integration is intensively blamed for causing the sovereign debt crisis in the euro area.However,after the launch of fiscal compact,which is viewed as an important progress of fiscal integration in the EU,the debt crisis spread to Spain and Cyprus.How to evaluate the effect of fiscal compact on fiscal integration,and what impacts do the fiscal integration have on relieving the debt crisis? This essay tries to go deep in such issues with different views such as fiscal function,economic growth,and the root cause of the debt crisis.It is also pointed out that the fiscal compact,as well as the future fiscal integration,will be pushed forward,but in difficulties and challenges.