The impact of Fiscal Stability Pact on Fiscal consolidation in Romania

Authors

  • Bogdan Condea Faculty of Economics "Aurel Vlaicu" University of Arad, Romania
  • Robert Almasi Faculty of Economics "Aurel Vlaicu" University of Arad, Romania

Abstract

In 2012 many states are facing a crisis of public debt and high deficits and challenges resumption of economic growth. In Europe, efforts are made to achieve and maintain the deficit targets set by international organizations. In 2011, most EU Member States received recommendations from the ECOFIN to take action and cut the deficit below 3% by the deadlines set for each country, starting in 2011 and ending in 2015.

References

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*** http://www.adevarul.ro/international/Liderii-UE-semnat-stabilitate-fiscala_0_656334474.html

*** http://ec.europa.eu

*** http://epp.eurostat.ec.europa.eu

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Published

2013-03-28