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The European Union General Budget, Policy of Stabilization and Economic Crisis

Maciej Cieślukowski ()
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Maciej Cieślukowski: Department of Public Finance, Poznań University of Economics, Poland

Economic Research Guardian, 2012, vol. 2, issue 2, 225-240

Abstract: Since the Lehman Brothers Bank has declared bankruptcy and launched the world financial crisis, many governments and international institutions have taken different actions in order to counteract negative effects of the crisis. European Union introduced the European Economic Recovery Plan for the years 2009 and 2010 and boosted the borrowing and lending operations outside the general budget. The article tries to assess the role EU general budget in countering the 2008 crisis. Before the crises and presently the EU general budget has been a weak instrument of macroeconomic stabilization policy. The borrowing and lending operations and EFSF mechanism play the crucial role in stabilization.

Keywords: Crisis; EU general budget; Function of stabilization (search for similar items in EconPapers)
JEL-codes: E52 E62 F34 H87 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:wei:journl:v:2:y:2012:i:2:p:225-240

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