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Sovereign Debt Crisis in Europe – Romania’ Vulnerabilities

Author

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  • Orãºtean Ramona

    () (“Lucian Blaga“ University of Sibiu, Faculty of Economic Sciences)

Abstract

Romania is among the countries that are vulnerable to the sovereign debt crisis in Europe. As a result of the global crisis, public sector deficit and debt level increase from 2007 to 2009. Deficit remains high in 2010, with only a modest reduction, while debt level continues to rise. This paper analyzes Romania’ vulnerabilities to sovereign debt crisis in the eurozone. Our findings highlight the necessity of major fiscal consolidation and fiscal discipline in Romania - a periphery country - to stay away from sovereign debt crisis.

Suggested Citation

  • Orãºtean Ramona, 2011. "Sovereign Debt Crisis in Europe – Romania’ Vulnerabilities," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1574-1577, May.
  • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1574-1577
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    More about this item

    Keywords

    sovereign debt crisis; Europe; Romania;

    JEL classification:

    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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