• Photo by MacroPolis

    Tailor-made Maastricht criteria for Greece?


    The European Union is discussing how to reform the fiscal rules for its member states. The original rules, called the “Maastricht Criteria” for the deficit and the debt, appeared straightforward, in principle. They called for the deficit of a member state to remain below 3 percent of GDP a year, while the stock of debt should not exceed 60 percent of GDP.