Criza economica si sanitara COVID-19, schimbari in legislatia economica a UE si unele efecte

Aurel Iancu

Studii Economice from Institutul National de Cercetari Economice (INCE)

Abstract: The study reveals the specific of the current economic crisis generated by COVID-19 compared to other previous crises. The study presents the evolutions of epidemiological curves in different European countries, and on this basis the actions of closing and opening economic, cultural, sports activities. In times of crisis, rapid decisions are needed, as well as flexible fiscal and financial mechanisms/instruments and an appropriate legal framework. The legal basis for such decisions and flexibilities is ensured by activating the general escape clause of the Stability and Growth Pact. The study ends with the application of the excessive deficit procedure to Romania in the midst of economic and health crisis.

Keywords: economic crisis; health crisis; COVID-19; epidemiological curve; activating the general escape clause; excessive deficit procedure; flexible economic mechanism; flexible budget (search for similar items in EconPapers)
JEL-codes: F15 F36 F44 G01 H6 I18 K20 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2020-06
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Persistent link: https://EconPapers.repec.org/RePEc:ror:seince:200625

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