Translation of "Discretionary fiscal policy" in German

In several Member States, part of the deterioration also stemmed from a discretionary loosening of fiscal policy.

Member States could make use of discretionary fiscal policy only if they have created the necessary room for manoeuvre.

Discretionary fiscal policy is often clumsy in responding to recession, given the usual lags in legislative and administrative implementation and the politics of pork and special interests surrounding spending and tax decisions.

Even in the absence of discretionary fiscal policy, moreover,such a constraint highlights the repercussions of pure monetary actions on the budgetary balance.

Keeping public finances in balance under normal circumstances will give the Member States room for manoeuvre, allowing them to use discretionary fiscal policy to react to asymmetric economic shocks, i.e. those shocks hitting only the Member State concerned but not the euro area as a whole.

Keeping public finances in balance under normal circumstances will give the Member States room for manoeuvre, allowing them to use discretionary fiscal policy to react to asymmetric economic shocks, i.e. those shocks hitting the Member State concerned but not the euro area as a whole.

Admittedly, even a long-term worrying development of the level of indebtedness is not a constitutionally relevant impairment of the legislature’s competence for a situation-dependent discretionary fiscal policy.

Nonetheless a clear agreement between the EMU policy actors on the criteria to assess when discretionary fiscal policies are justified would increase the transparency and predictability of budgetary behaviour.

A clear agreement between the EMU policy actors on the criteria to assess discretionary fiscal policies would increase the transparency and predictability of budgetary behaviour.