Sample Essay
European fiscal policy has varied according to a variety of economic circumstances. There is also some variation in fiscal policy depending on the what geographical region we are referring to. For example eastern European nations with roots in communist dictatorial economies tend to have more state intervention when compared to Western European nations.
Generally however European fiscal policy has been such that it allows for greater state intervention in policy making. One of the major external factors that has been influencing development of policy in Europe is the establishment of the European commission. The establishment of one currency means that a standard European monetary policy is influenced by differing fiscal policies/ While countries generally tighten budgets to get included in the Commission they loosen up after becoming part of it. Recently the crisi means that most European countries are running large fiscal deficits.
Another difference specifically between European and American fiscal policies is that Europeans spend a larger part of their budget on health . France’s government runs a more extensive health coverage system then America. Also traditionally the Wealth Tax has been high in Europe but this is now changing and it is coming down to the relatively lower levels that exist in America.
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