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The Changes Brought By The Financial Crisis Upon The Interaction Between The European Union Budget And Small And Medium Sized Enterprises

Author

Listed:
  • RUXANDRA DANA VILAG

    (Romanian – American University, Romania)

  • GEORGE HORIA IONESCU

    (Romanian – American University, Romania, Romania)

  • IULIANA PREDESCU

    () (Romanian – American University, Romania, Romania)

  • ANTONIU PREDESCU

    (“Spiru Haret” University, Romania)

Abstract

Currently, Europe and the entire world is hit by the most serious financial crisis of the past 80 years aroused from the United States sub-mortgage market falling.The countries’ governments together with main financial institutions, are required to take an exceptional series of decisions, decisions which can minimize the possible devastating effects on the economy and citizens. In the European aria, the European Union budget is the most important tool that influences the amount of expenses and income related to the policy objectives of the Community and in this way each member state policy. For preventing the crisis grow the European Union is trying hard to expand it’s power in the decision process, and that’s way the Budget’s construction is starting to change. In this paper we try to find the main effects of that changes on the development of the small and medium sized enterprises. We would also show if the reverse connection is as true as the first one, meaning: Are the small and medium sized enterprises able to pull off faster the European economy from this crisis and so to have an influence on the make over of the European Union Budget?

Suggested Citation

  • Ruxandra Dana Vilag & George Horia Ionescu & Iuliana Predescu & Antoniu Predescu, 2010. "The Changes Brought By The Financial Crisis Upon The Interaction Between The European Union Budget And Small And Medium Sized Enterprises," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
  • Handle: RePEc:bbn:journl:2010_2_5_vilag
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    File URL: http://tbs.ubbcluj.ro/RePEc/bbn/journl/Negotia_2_2010.pdf
    File Function: Revised version, 2010
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    More about this item

    Keywords

    European Union Budget; small and medium sized enterprises; financial crisis;

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • H79 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other

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