© 2016

Fiscal Rules - Limits on Governmental Deficits and Debt

  • Fred L. Morrison
  • Covers the limits imposed at the national level, regional and municipal levels

  • Includes limitations resulting from constitutions, international treaties and other instruments

  • Carefully defines terminology and provides historical context?


Part of the Ius Comparatum - Global Studies in Comparative Law book series (GSCL, volume 20)

Table of contents

  1. Front Matter
    Pages i-xii
  2. General Report

    1. Front Matter
      Pages 1-1
  3. Special Regional Report

  4. National Reports

  5. Back Matter
    Pages 349-353

About this book


This book examines legal limitations on government deficit and debt and its impact on the ability of nations to provide services to their residents. It studies constitutional and statutory limitations, as well as those imposed by international treaties and other instruments, including those of both the European Union and the International Monetary Fund. The book contains a general report examining the fiscal rules that govern the budgets and expenditures of nation states. The general report is followed by a special report which covers the limits imposed by the European Union and by the smaller group of countries constituting the Eurozone. Ten national reports, describing the limits in their respective countries, form the basis of the general report. These countries include eight members of the European Union (five of which use the Euro and three of which do not), one other European state and one non-European state. The reports include two countries in which constitutional “debt brakes” limit national deficit and debt.


Budgetary Planning and “Debt Brakes” Budgeting and Issues of Indebtedness Crisis of the Economic and Monetary Union European Union Eurozone Governmental Deficits and Debt International Monetary Funds International treaties Legal Frames of the Financial System Process of Budgeting Public deficit and debt

Editors and affiliations

  • Fred L. Morrison
    • 1
  1. 1.University of Minnesota Law SchoolMinneapolisUSA

About the editors

Fred L. Morrison is the Popham Haik Schnobrich/Lindquist & Vennum Professor of Law at the University of Minnesota Law School in Minneapolis, Minnesota, USA, where he teaches constitutional law and international law, where he has twice served as Interim Dean. In the 1970’s was the Research Director of the State of Minnesota’s Constitutional Commission, which prepared the text of the current state constitution. He has served as the Counselor of International Law for the United States Department of State. 

Bibliographic information

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