Golden Rule or Golden Straightjacket? Vox EU Article on Fiscal Compact

Here‘s an article I wrote on the Fiscal Compact for VoxEU. It’s an amended version of this article published in the Irish Times (which in turn is a copy of my comments at this Oireachtas commitee–hey, it’s a low marginal cost business.)

The amended version changes the last few paragraphs with a view to VoXEU’s EU audience. I think the balance of arguments favour Ireland signing the Treaty and retaining access to the ESM and an Irish No vote is unlikely to have much influence on changing the flaws in the Treaty.

However, I think we still need a wider European debate about the Compact. It has not come in to force yet and it should not be too late to amend some of its more restrictive aspects.