AN OVERVIEW OF FISCAL CONSOLIDATION PROCESS IN THE EUROPEAN UNION
DOI:
https://doi.org/10.29358/sceco.v0i20.291Keywords:
EU fiscal consolidation, financial stress, sovereign debt crisis, public deficit, fiscal effortAbstract
This paper aims to explore, based on theoretical and empirical research in the field and on data available on Eurostat and European Commission, in the context of financial significant imbalances and thus of the financial stress in the EU countries and especially in the Euro area, the main developments in the fiscal consolidation process given the fiscal effort of each country towards fiscal union. Since the financial crisis started in 2008, many EU Member States demonstrates an obvious macroeconomic imbalance which requires increased responsibility regarding fiscal developments. The impact of the crisis and the causes of sovereign debt high levels trends varied between EU countries as well as the budget deficit levels. Thus, the main priority for EU members must be the continuation of differentiated fiscal consolidation, given the specificities of each economy, favoring growth. The medium-term fiscal policy needs to focus on consolidating public finances along with restoring long-term sustainability.Downloads
Downloads
Published
Issue
Section
License
Authors who publish with Studies and Scientific Researches. Economics Edition (SCECO) agree to the following terms:
-
Copyright Retention
Authors retain full copyright over their work and grant the journal the right of first publication. The published article is simultaneously licensed under the Creative Commons Attribution 4.0 International License (CC BY 4.0). This license permits others to:-
Share — copy and redistribute the material in any medium or format
-
Adapt — remix, transform, and build upon the material
for any purpose, even commercially, as long as proper attribution is given to the original author(s) and source.
-
-
Additional Distribution
Authors may enter into separate, non-exclusive contractual arrangements for the distribution of the journal’s published version of the work (e.g., post it to an institutional repository, include it in a book), with clear credit to the initial publication in SCECO. -
Preprint and Open Posting Policy
Authors are encouraged to post their work online (e.g., in preprint archives, institutional repositories, or personal websites) before submission, during review, and after publication.
This practice supports academic exchange and can lead to earlier and broader dissemination and citation of published work.
(See: “The Effect of Open Access” – PLOS)
For further inquiries regarding copyright, licensing, or archiving, please contact the editorial office at Editorial Board
How to Cite
