Financial adjustment - a short introduction

June 2004, Veronika Adensamer, Andreas Höferl, 13 pages

Financial adjustment is on the agenda again. Every four years, politicians from federal, state and local governments engage in “financial adjustment negotiations”. The time has come again because the existing financial adjustment “expires” at the end of the year. However, whilst politicians inform the public about their ideas and demands, for most people affected, the citizens, this “financial adjustment” remains an impenetrable matter. Something, the practical significance of which is at best presumed, but rarely comprehended in its entirety. This short work shall give interested laymen an overview of this “financial adjustment”, what it is about, which are its legal bases and most important elements, and how it works in practice.

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