Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/29040
Title: The influence of the European economic governance on Malta’s budget
Authors: Grima, Francesca
Keywords: Monetary policy -- Malta
European Union countries -- Economic policy
Economic development -- Malta
Budget -- Malta
Expenditures, Public
Issue Date: 2017
Abstract: The greatest impacts of Malta’s accession to the EU are the supremacy of EU legislation and the consequent pooling in of sovereignty in matters such as fiscal policy and economic growth. Since EU membership, Malta’s monetary policy is wholly centralised at the EU level while its economic and fiscal policies are constrained by the restrictions of the European economic governance comprising both ‘hard’ and ‘soft’ governance features. In consideration of the above, this thesis seeks to contribute to the limited field of Maltese knowledge regarding the implications of the European economic governance on Malta’s Budget from a legal perspective. Accordingly, the rationale of this thesis is to analyse and show the pervasive and continuous influence of the EU’s economic governance system on Malta’s budgetary framework; as well as the resulting implications of the reforms undertaken by Malta to adapt to the requirements of such system. This thesis primarily illustrates the manner in which Malta’s budgetary process developed in line with the revamped EU economic governance legislation mainly through the implementation of the European Semester cycle and the ‘common budgetary timeline’. On this basis, an in-depth study is undertaken of the relative institutional and legislative frameworks at both the EU and the national levels. Following an examination of the actors and institutions engaged in the budgetary process, as well as the interplay between them, several relevant legal instruments are discussed and analysed. A thorough review of the Fiscal Responsibility Act of 2014 is carried out to determine the degree with which the requirements stipulated in the EU’s economic governance rules have been transposed into Maltese law; thereby resulting in new fiscal rules; the establishment of an independent Fiscal Council; and the setting up of a medium term budgetary framework. Ultimately, this thesis provides the author’s concluding remarks regarding Malta’s response to the European economic governance obligations and the ensuing implications.
Description: LL.D.
URI: https://www.um.edu.mt/library/oar//handle/123456789/29040
Appears in Collections:Dissertations - FacLaw - 2017
Dissertations - FacLawPub - 2017

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