Determinants of Debt Crisis in EU and the Recovery Efforts

Mustafa Öztürk, Osman Nuri Aras and Filiz Kadı

MPRA Paper from University Library of Munich, Germany

Abstract: European Union has taken economic and financial measures to cope with the debt crises erupted in 2009. These measures can be summarized as putting in place a bail-out mechanism and austerity measures, strengthening economic policy coordination, setting up “Stability and Growth Pact III” and the establishment of a system of macro-economic surveillance, introducing the “Euro Plus Pact” for closer economic coordination of euro-zone countries and the establishment of a permanent European Stability Mechanism (ESM). Will the European Union be able to master the debt crises? To answer this question, we will examine the economic and financial determinants of the crises. Moreover we will discuss how effective the economic and financial measures taken for the recovery of EU countries.

Keywords: Debt; Debt Crisis; Managing the crisis; European Union; Member States; Macroeconomic Stabilisation (search for similar items in EconPapers)
JEL-codes: E62 E63 F55 H63 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in International Journal of Social Sciences and Humanity Studies 4.2(2012): pp. 343-354

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/81854/1/MPRA_paper_81854.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:81854

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().