What we now call the fiscal rule, was invented by Guy Abeille, a French official in 1981. President of France (in that time), Mitterrand, asked him what the budget deficit would be. They needed a simple rule that would determine the annual maximum public expenditure for internal purposes. To the drafters of the proposal and Guy Abeille, all the solutions seemed too complicated. They recalled the budget deficit and set it as a ratio to gross national income. In that year, this value was 3%. The process lasted for one hour.

Ten years later, when it was necessary to determine the criterion for the budget deficit of the monetary union, then French Finance Minister Trichet explained that France successfully applied the rule of 3%. Thus, this criterion was entered into the Maastricht Treaty. To politically convince the general public of the correctness of such a criterion, economists (with bureaucratic inspiration) offered various scientific and professional arguments. Indeed, since 1993, members of the Monetary Union have been subject to the "under the thumb" rule.

The golden fiscal rule ignores economic cycles by causing people to despair and even starvation in a crisis

It was even strongly opposed by Nobel laureates for economics (eg Peter Diamont, Kenneth Arrow, Willim Shappe, and Eric Maskin). Other economists have predicted that this fiscal jacket will devastate the country's economy.

Personally, I consider that this provision is an economic criminal act directed against future generations.

Members of the EU went a step further, and recorded the golden fiscal rule even in the constitution. Thus, it can not be resolved even with a referendum.

Instead of the politicians checking the economic situation of the Maastricht provisions and instead of concentrating on financial speculators and fraudsters, they demand that the burden of the crisis should be held by citizens who are not responsible or do not even know the roots of financial crisis.

The economic policy of a country must be governed by its economic circumstances. In view of the crisis, it would therefore be reasonably likely to expect greater public investment from budget funds. "Smart", diligent and obedient citizens, we save at the expense of people for almighty capital.