Belgium didn’t show a lot of fiscal discipline in the good economic times. Since 2009 our country belongs to countries in the excessive deficit procedure with a strict surveillance of the European Commission. The nonsensical debate about austerity should be overcome.
The budget debate in our country confronts us with the need for greater fiscal coordination at European level, the think tank Itinera argues. For Belgium the think tank sees but one good remedy: save on public spending at all levels.
The intervention of the European commission is to be considered a sign of progress on the road towards European integration and a positive consequence of the current crisis.
