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Economic Crisis - Implications and Perspective on the European Economy

Author

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  • Militaru Mãdãlina

    („Spiru Haret” University)

Abstract

The current global economic crisis involves shocks felt far and wide in Europe, without precedent in post-war economic history. This crisis was preceded by long period of rapid growth, availability of liquidity.The acute liquidity shortage pushed system to collapse. The financial crisis has had a pervasive impact on the real economy of the EU, and this in turn led to adverse feedback effects on loan books, asset valuations and credit supply. Not only actual economic activity has been affected by the crisis, also potential output is likely to have been affected, and this has major implications for the longer-term growth outlook and the fiscal situation.

Suggested Citation

  • Militaru Mãdãlina, 2011. "Economic Crisis - Implications and Perspective on the European Economy," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1357-1362, May.
    • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1357-1362
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    More about this item

    Keywords

    liquidity shortage; systemic collapse; structural unemployment; global crisis;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration

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