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The Consequences Of Global Financial Crisis Over European Union Budget

Author

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  • George Horia Ionescu

    (Romanian American University Author-Name:Mihai-Dragoş Ungureanu
    EU Parlament Author-Name: Ruxandra-Dana Vilag
    Romanian American University)

Abstract

Today the global economy is facing the biggest financial crisis of the last eighty years, with huge implications in real economy. The international financial institutions, together with the developed countries’ governments have to take a series of exceptional decisions, decisions meant to minimize the devastating effects of this crisis over the economy and citizens. The European Union Budget is the most important tool of the Community that can decide the amount of revenues and expenditures for each political objective. In this paper will try to capture the main effects that this financial crisis has over the European Budget. The focus will be on the “social policy” expenditures and on the dynamic changes of the budget’s indicators.

Suggested Citation

  • George Horia Ionescu, 2009. "The Consequences Of Global Financial Crisis Over European Union Budget," Romanian Economic Business Review, Romanian-American University, vol. 4(1), pages 28-39, March.
    • Handle: RePEc:rau:journl:v:4:y:2009:i:1:p:28-39
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