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31. Fiscal Consolidation in the EU's New Member States

Author:
Daniel Daianu
Publication Date:
01-2011
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
"The global financial crisis has triggered exceptional responses in the Euro zone and the U.S. A similar policy thrust should apply to the use of EU funds in the New Member States (NMS) of Central and Eastern Europe. The stakes are too high for vacillating. The bottom line is this: more capital has to flow into NMSs in order to fund the production of capital goods during a time when national budgets are extremely strained. This period may last for years, but inaction may lead to future political and economic instability in the region."
Topic:
Financial Crisis, Reform, European Union, and Macroeconomics
Political Geography:
Europe

32. Macroeconomic Surveillance Within the EU

Author:
Marek Dabrowski
Publication Date:
11-2010
Content Type:
Working Paper
Institution:
Center for Social and Economic Research - CASE
Abstract:
The new European Union (EU) economic governance package released by the European Commission on September 29, 2010 includes two major components, i.e., changes and amendments to the Stability and Growth Pact (SGP) and new regulation on the prevention and correction of macroeconomic imbalances within the EU and European Monetary Union (EMU). While the first piece offers a certain improvement in the EU fiscal surveillance rules the second one looks deeply flawed and operationally unenforceable.
Topic:
Debt, Financial Crisis, Governance, European Union, Macroeconomics, and European Monetary Union
Political Geography:
Europe