Managing Crises: Are Lax Fiscal Policies a Worthy Practice?
Financial markets turmoil, the collapse of the U.S. housing market, Lehman Brothers’ bankruptcy, the lack of liquidity that followed, decreasing confidence of both population and private sector, have brought a severe financial crisis in mid 2007, which quickly turned into a economic recession. How did states react to temper the economic downturn that followed? How did they guide their policies? Which will be long-term consequences their present practices? And, above all, were the efforts worth? We intend to answer all these questions through this paper, referring to the European Union’s case, and, in particular, to Romania’s case.
Volume (Year): X (2010)
Issue (Month): 2 (October)
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