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EU Macroeconomic Policy Reforms under Influence of Eurozone Crisis

Author

Listed:
  • Dmitri Sergeevich Evstafiev
  • Natalia Genrikhovna Zaslavskaya

Abstract

This article is devoted to major measures undertaken in order to reform the EU macroeconomic policy as a result of Eurozone crisis. It is a highly crucial issue for academic research due to multiple problems that occurred in the Eurozone states as a result of the 2008 world financial crisis. It is also an interesting issue for research because of the EU’s activities targeted at insuring efficiency of the EU institutions and support of problematic member states. Research objective of this article is examination of the Eurozone crisis influence on the evolution of institutional aspects of the EU macroeconomic policy. The methodological basis of this research is composed of positive economics, comparative analysis, structural and functional analysis, and theoretical aspects of rational choice institutionalism. As a result of the research, it was demonstrated that internal debates within the EU had negative impact of the Eurozone crisis, institutional reforms undertaken to solve the crisis were not finalized, but eventually the European Union managed to find solutions to solve the EMU problems in the context of macroeconomic harmonization. The practical importance of this article is determined by evaluation of the current Eurozone situation and efficiency of institutional reforms.

Suggested Citation

  • Dmitri Sergeevich Evstafiev & Natalia Genrikhovna Zaslavskaya, 0. "EU Macroeconomic Policy Reforms under Influence of Eurozone Crisis," Administrative Consulting, Russian Presidential Academy of National Economy and Public Administration. North-West Institute of Management., issue 1.
    • Handle: RePEc:acf:journl:y::id:492
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    References listed on IDEAS

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    1. Jeffrey A. Frankel & George Saravelos, 2010. "Are Leading Indicators of Financial Crises Useful for Assessing Country Vulnerability? Evidence from the 2008-09 Global Crisis," NBER Working Papers 16047, National Bureau of Economic Research, Inc.
    2. Philip R. Lane, 2012. "The European Sovereign Debt Crisis," Journal of Economic Perspectives, American Economic Association, vol. 26(3), pages 49-68, Summer.
    3. Carlo Panico, 2010. "The causes of the debt crisis in Europe and the role of regional integration," Working Papers wp234, Political Economy Research Institute, University of Massachusetts at Amherst.
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