Sovereign Debt Crisis in Europe – Romania’ Vulnerabilities
AbstractRomania is among the countries that are vulnerable to the sovereign debt crisis in Europe. As a result of the global crisis, public sector deficit and debt level increase from 2007 to 2009. Deficit remains high in 2010, with only a modest reduction, while debt level continues to rise. This paper analyzes Romania’ vulnerabilities to sovereign debt crisis in the eurozone. Our findings highlight the necessity of major fiscal consolidation and fiscal discipline in Romania - a periphery country - to stay away from sovereign debt crisis.
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal strategy, product policy, entrepreneur, touristic products, services.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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sovereign debt crisis; Europe; Romania;
Find related papers by JEL classification:
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- O23 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
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