Europejska Rada Budżetowa jako organ uzupełniający narodowe rady fiskalne w krajach strefy euro
The European Fiscal Board as a body complementing national fiscal councils in the euro area countries

Summary/Abstract: This article presents selected theoretical aspects of independent fiscal councils, characterizes their role in the fiscal surveillance in the euro area countries, and shows genesis and principles of the functioning of the European Fiscal Board. The article also points out to controversies concerning the above mentioned Board as the body created by the European Commission. The main conclusion drawn from this article is that setting up independent institutions, such as fiscal councils, at the national level and the European Fiscal Board at the European level can be a decisive step in complying Member States with fiscal rules and in creating proper fiscal space by those countries. Credible and sustainable public finances are the precondition for completing the Economic and Monetary Union.

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