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Is the EU Budget Able to Support the Sustainable Development under the Global Crisis?

Author

Listed:
  • Vlad- Romeo IONESCU

    () (Danubius University of Galati, Romania)

Abstract

The present global crisis changes the expectations connected to the economic trend across the EU. Many Member States see the EU budget as an instrument able to support their individual economic recovery. This paper analyses the viability of the EU budget to do this. The approach is a critical one. The paper is divided into three parts: first of them analyses the financial framework during 2007-2013 and its weaknesses connected to lack of flexibility, lack of focus on European priorities, severe delays and input over performance. A distinct part of the analysis is focused on the EU budget 2011 as the first budget voted under the Lisbon Treaty. Even that the EU budget 2011 draft was built based on an expenditures increase of 6.2%, the real final increase was only 2.9%. At least, the paper analyses the EU budget 2012 draft which will achieve 132.7 billion Euros (4.9% greater than in 2011) and will be focused on the supporting of the European economy and the EU citizens. The main conclusion of the paper is that the EU budget is far away of being an instrument against the present global crisis. The contradictions between the Member States can be found in the EU budget structure and financial allocation. The analysis in this paper is supported by European Council, European Commission and Eurostat official documents and database, by pertinent statistical tables and diagrams.

Suggested Citation

  • Vlad- Romeo IONESCU, 2011. "Is the EU Budget Able to Support the Sustainable Development under the Global Crisis?," EuroEconomica, Danubius University of Galati, issue 5(30), pages 95-102, December.
  • Handle: RePEc:dug:journl:y:2011:i:5:p:95-102
    as

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    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/1146/961
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