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Criza economica si sanitara COVID-19, schimbari in legislatia economica a UE si unele efecte

Author

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  • IANCU, AUREL

    (Institutul National de Cercetari Economice – Academia Romana, Bucuresti, Romania)

Abstract

The study reveals the specific of the current economic crisis generated by COVID-19 compared to other previous crises. The study presents the evolutions of epidemiological curves in different European countries, and on this basis the actions of closing and opening economic, cultural, sports activities. In times of crisis, rapid decisions are needed, as well as flexible fiscal and financial mechanisms/instruments and an appropriate legal framework. The legal basis for such decisions and flexibilities is ensured by activating the general escape clause of the Stability and Growth Pact. The study ends with the application of the excessive deficit procedure to Romania in the midst of economic and health crisis.

Suggested Citation

  • Iancu, Aurel, 2020. "Criza economica si sanitara COVID-19, schimbari in legislatia economica a UE si unele efecte," Studii Economice 200625, Institutul National de Cercetari Economice (INCE).
    • Handle: RePEc:ror:seince:200625
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    More about this item

    Keywords

    economic crisis; health crisis; COVID-19; epidemiological curve; activating the general escape clause; excessive deficit procedure; flexible economic mechanism; flexible budget;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
    • G01 - Financial Economics - - General - - - Financial Crises
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • K20 - Law and Economics - - Regulation and Business Law - - - General

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