IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

The European Union Exposed To The Risk Of The Sovereign Debt Crisis. Case Study: Spain And Portugal

Listed author(s):
  • Ioana-Iulica, MIHAI


    (“Constantin Brâncoveanu” University, Romania)

Registered author(s):

    The global economic crisis, intensely debated, started almost six years ago, subjected the EU to new resistance tests because of the macroeconomic imbalances in the Euro Zone, generated by the increase of sovereign debts, especially in the PIIGS countries (Portugal, Ireland, Italy, Greece, Spain). The situation has degenerated because of the lack of legal leverages through which the member countries should be forced to correct the fiscal imbalances and to meet the macroeconomic convergence criteria imposed. The Treaty on Fiscal Governance in the EU, signed on 2 March 2012, appears to be the key to the macroeconomic recovery in the Euro Zone, due to the more severe budgetary discipline it imposes. This paper, by means of deductive analysis and causal explanations, outlines the current economic situation of the Euro Zone, under the impact of the member countries’ sovereign debt crisis, focusing on Spain and Portugal. In addition to reliable statistics, the paper also presents the EU’s economic recovery strategy that anticipates its future. Unfortunately, the perspective of the Euro Zone is still in a fairly high degree of uncertainty, strongly influenced by the economic development of the member countries and by solving the problems they face. Spain and Portugal are the actual example.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    Article provided by Constantin Brancoveanu University in its journal Management Strategies Journal.

    Volume (Year): 22 (2013)
    Issue (Month): Special ()
    Pages: 55-61

    in new window

    Handle: RePEc:brc:journl:v:23:y:2013:i:s:p:55-61
    Contact details of provider: Phone: 004-0248-221098
    Web page:

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:brc:journl:v:23:y:2013:i:s:p:55-61. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dan MICUDA)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.