Fiscal Policy Challenges in Times of Crisis

Ionescu Alexandra, Dobre Elena and Cusu Dorinela ()
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Cusu Dorinela: „Ovidius” University of Constantza

Ovidius University Annals, Economic Sciences Series, 2010, vol. X, issue 1, 1645-1649

Abstract: Severely affected by the crisis, considered as the deepest one since the Great Depression between 1929-1933, the European Union’s economy has recorded the sharpest decline in its history starting with the end of 2007. In response to this downturn, interventions included implementing the European Economic Recovery Plan, changing the fiscal policy, together with a coordinated support of all member states to stabilize the financial and banking sector. Still, the instruments used to counteract the negative implications of the crisis and the fiscal measures taken by each state member differ notably, as the economic conditions differ from one state to another. Through this paper we intend to analyze the European Union’s reaction to the new challenges in the economic environment, and in particular, Romania’s way of addressing a period of deep constraints.

Keywords: fiscal policy; European economic recovery plan; fiscal adjustments. (search for similar items in EconPapers)
JEL-codes: E62 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:10:y:2010:i:1:p:1645-1649

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