If the euro is to function in the future, economists warn, then a similar system of centralised fiscal transfers will be needed there too.
These powers provide the main mechanism through which fiscal transfers can be made to the more depressed regions of the sovereign state.
Fortunately there are still some fiscal transfers to the periphery due to the automatic stabilisers.
In a currency union trade imbalances quickly knock the pot over without fiscal transfers to alleviate the stresses.
If you cannot have fiscal transfer, ministers seem to be saying, then you can at least have debt forgiveness.
So they are devising a mechanism where such fiscal transfers will happen automatically.
It established the tradition of the federal government supporting the provinces through fiscal transfers (Sections 118 and 119).
If the mechanism turns out to be a fiscal transfer from rich to poor Europe, then the cost of this is fully carried by northern europe.
Flow computers are specifically used for custody or fiscal transfer.
It is not merely a budgetary or fiscal transfer from one country to another.