Reforming the Eurozone

Radu Titus Marinescu, Constantin Anghelache, Valentin Bichir and Dumitru Alexandru Bodislav
Additional contact information
Radu Titus Marinescu: „Artifex” University of Bucharest
Constantin Anghelache: „Artifex” University of Bucharest / Academy of Economic Studies, Bucharest
Valentin Bichir: Academy of Economic Studies, Bucharest

Romanian Statistical Review Supplement, 2013, vol. 61, issue 2, 42-48

Abstract: In the heat of the debt crisis, German Chancellor Angela Merkel made an admission that clarified for many the stark choices facing Europe: rolling government debt too far into the future was no longer an option for Germany because there was no guarantee the country’s aging population could cover the bills once they came due. in a nutshell, Merkel illustrated the problems facing the European Union’s “social market economy.” lavish retirement and welfare benefits begun during the vibrant years of the post-world war II boom may not be affordable in an era of declining population, slower economic growth and waning competitiveness.

Keywords: government; investor; fiscal union; budget; sovereignty (search for similar items in EconPapers)
JEL-codes: N10 N14 (search for similar items in EconPapers)
Date: 2013
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