Sovereign Debt Crisis in Europe – Romania’ Vulnerabilities

Orãºtean Ramona ()
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Orãºtean Ramona: “Lucian Blaga“ University of Sibiu, Faculty of Economic Sciences
Authors registered in the RePEc Author Service: Ramona (toma) Orastean ()

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 1574-1577

Abstract: Romania is among the countries that are vulnerable to the sovereign debt crisis in Europe. As a result of the global crisis, public sector deficit and debt level increase from 2007 to 2009. Deficit remains high in 2010, with only a modest reduction, while debt level continues to rise. This paper analyzes Romania’ vulnerabilities to sovereign debt crisis in the eurozone. Our findings highlight the necessity of major fiscal consolidation and fiscal discipline in Romania - a periphery country - to stay away from sovereign debt crisis.

Keywords: sovereign debt crisis; Europe; Romania (search for similar items in EconPapers)
JEL-codes: F34 G15 H63 O23 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:1574-1577

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