The Evolution of Public Debt in Romania in the Context of the European Fiscal Compact

Talpoº Ioan () and Avram Alexandru* ()
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Talpoº Ioan: Faculty of Economic and Business Administration, West University of Timisoara
Avram Alexandru*: Faculty of Economic and Business Administration, West University of Timisoara

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 1514-1518

Abstract: The Stability and Growth Pact and recently, The European Fiscal Compact are based on the assumption that national tax policy Member States could have a negative impact on partner countries. Eurozone countries have pledged to respect the Stability and Growth Pact, its observance is an example of a fiscal rule enshrined in an international treaty that raises a delicate question: Can a treaty resulting from political compromise to include constraints economic, which are contrary to economic theory? Strong expansionary policy risk was considered, but not too restrictive and risk policies. Pact was revised in 2005, but his initial basic principles have remained unchanged.

Keywords: stability and growth pact; public debt; fiscal policy; GDP. (search for similar items in EconPapers)
JEL-codes: G30 H61 (search for similar items in EconPapers)
Date: 2013
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