Fiscal federalism and fiscal decentralization are the main pillars of federal and decentralized systems. Although there are comparable problems, competences and designs of these systems vary significantly. Furthermore, the systems are faced with pressure to justify and to reform due to the financial and debt crisis. In this volume, leading regional and financial experts discuss different approaches and strategies of shaping and reforming fiscal federalism and fiscal decentralization in Austria, Italy, Spain, and the United Kingdom. The situation in each country is analyzed and compared.

The content of this volume includes designs of decentralized financial systems, consequences of changing governments on the systems, and repercussions of the financial and debt crisis on politics. Also addressed are abilities to reform the main areas of the systems.