Problems with fulfilment of stabilization pact in the face of the financial crisis of the Eurozone
Journal Title: Central European Review of Economics and Finance - Year 2016, Vol 13, Issue 3
Abstract
The main aim of the rules of fiscal policy of European Union is to identify and limit the negative impact of wrong policies of some of the member states on the functioning of the remaining countries of the Eurozone. In order to limit possible threats institutional and legal regulations were put in place in form of Stability and Growth Pact. Its main aim was to discipline the fiscal policies led by the countries of the Eurozone. The debt crisis in the Eurozone proved, that the convergence criteria of the Maastricht Treaty and the Stability and Growth Pact were not sufficient t provide stability of public finances in the counties of the Eurozone. It is thus justified to launch an analysis concerning the debt situation of the Eurozone and its further existence. What is also to be analyzed are the problems resulting from the non-adherence of the countries of Eurozone to the Stability and Growth Pact. The analysis was conducted on the basis of literature study and analysis of statistical data.(original abstract)
Authors and Affiliations
Aneta Krawczyk-Sawicak
Keywords
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