IDEAS home Printed from https://ideas.repec.org/a/ovi/oviste/vxiiy2012i1p1064-1069.html
   My bibliography  Save this article

Assessing the Effectiveness of the Restrictions Imposed by the Stability and Growth Pact and The European Fiscal Compact – The Case of Romania

Author

Listed:
  • Avram Alexandru

    (Faculty of Economic and Business Administration, West University of Timisoara)

  • Avram Veronel

    (Faculty of Economic and Business Administration, University of Craiova)

  • Hete? Roxana

    (Faculty of Economic and Business Administration, West University of Timisoara)

Abstract

The Euro zone’s deficiencies became obvious when the crisis turned permanent. The Euro zone was caught without a supervisory procedure on macroeconomic imbalances, crisis management instruments, adequate banking supervision and sufficient instruments of resolution. The primary reason for these failures is the lack of a fiscal union with an adequate authority over fiscal, structural and banking policies. Attempts to straighten these mistakes were done ad hoc and have so far been insufficient because they have implied a high moral hazard. Financial markets are increasingly aware of these shortcomings, and have begun to rely on the possibility of abolishing the Euro zone.

Suggested Citation

  • Avram Alexandru & Avram Veronel & Hete? Roxana, 2013. "Assessing the Effectiveness of the Restrictions Imposed by the Stability and Growth Pact and The European Fiscal Compact – The Case of Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1064-1069, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1064-1069
    as

    Download full text from publisher

    File URL: http://stec.univ-ovidius.ro/html/anale/ENG/cuprins%20rezumate/volum2013p1.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    public debt; budget aggregates; budget deficit; automatic stabilizers.;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:1064-1069. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gheorghiu Gabriela (email available below). General contact details of provider: https://edirc.repec.org/data/feoviro.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.