By Amedeo Fossati, Giorgio Panella
To what volume may still neighborhood and nearby governments within the ecu Union be allowed to figure out their very own monetary regulations? This ebook explores the center problems with economic federalism within the eu context. It combines theoretical and empirical research in addressing such questions as: what kind of economic federalism is suitable within the ecu group, what are the risks of extra centralization, and what are the prices of higher decentralization.
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Example text
G. Spain) constitutional setting. g. Italy). g. the United Kingdom, Greece). A COMPARATIVE VIEW OF LOCAL FINANCES IN EU COUNTRIES 15 At the same time, marked changes in the general economic conditions and, as a consequence, alterations in the attitude of most European governments towards public expenditure (at all levels) have taken place. Central governments of all political colours have become increasingly concerned about their degree of control over subcentral levels of expenditure and have tried to instil the ‘virtue’ of accountability in subcentral governments.
Portugal: 1992 data. Greece: 1992 data. Column headings 1=expenditure of all levels of government (as per cent of GDP). 2=expenditure of the ‘intermediate’ at local level (as per cent of GDP). 3A=total revenues of the ‘intermediate’ level (absolute value in billions of ECU). 3B=revenues of the ‘intermediate’ level given by the sum of transfers from other levels of government+devolved taxes (tributos cedidos) +shared taxes (absolute value in ECU and as per cent of 3A). 3C=revenues of the ‘intermediate’ level coming from really own (=autonomous) taxes (absolute value in ECU and as per cent of 3A).
However, differences arise A COMPARATIVE VIEW OF LOCAL FINANCES IN EU COUNTRIES 37 with regard to the nature attributed to some tax revenues and therefore to classification criteria. For example, the OECD surveys are not particularly concerned with the ‘autonomous’ or ‘non autonomous’ qualification of the tax yield accruing to a particular layer of subcentral government. The 15 surveys, on the contrary, have tried to draw such a distinction, in order to establish what degree of ‘self-financing’ characterises subcentral government in each country.