fiscal policy
Reports on fiscal policy See all →
GIS Dossier: Tax reform vs. harmonization
Political elites around the world are calling for higher taxes, as well as more centralized, unified systems to ensure as much as possible is collected. Yet populations are increasingly raising the alarm about overly complex or onerous taxes. For years, GIS experts have explained why moves toward higher tax burdens are a mistake. The question is whether leaders will wake up to that reality.
The dangers of preferential treatment for sovereign debt
Under current rules, eurozone countries’ bonds are classified as “zero-risk,” meaning banks are not required to hold any capital against such assets. The system creates a perverse incentive for banks to stock up on sovereign debt, creating a toxic mix – but what can be done? Putting risk assessments on ...
The debt problem ignored
The world has grown addicted to ceaseless injections of new money, which can only be generated by incurring debt. As relentless fiscal expansion continues on both sides of the Atlantic, politicians have no long-term plan for dealing with the crushing liabilities it generates. A financial meltdown can be delayed for ...
Lebanon’s economy: still stuck
Almost exactly a year ago, French President Emmanuel Macron got officials and investors from 50 countries to agree on an $11.1 billion reform and investment program for Lebanon. Fast forward 12 months, and the country remains a shambles. With no signs of progress on any of the key structural problems ...
GIS Dossier: Argentina digs itself out of a hole
Nearly 20 years after its historic default, Argentina is still trying to climb back to economic equilibrium. Years of corruption and mismanagement frittered away profits from natural resource exports, while a “gradualist” approach to reform still ended in Latin America’s largest-ever bailout from the IMF. This GIS Dossier reviews our ...
