Sovereign Debt Crisis in Europe – Romania’ Vulnerabilities
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.
Volume (Year): XI (2011)
Issue (Month): 1 (May)
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