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The European Project beyond the Financial Crisis

Author

Listed:
  • Criste Adina

    (“Victor Slãvescu” Centre for Financial and Monetary Research, Romanian Academy)

  • Lupu Iulia

    (“Victor Slãvescu” Centre for Financial and Monetary Research, Romanian Academy)

Abstract

The financial crisis that has broken out in 2007, and spread throughout Europe since 2008, has been reflecting on the economic activity and employment, generating economic downturn. Gradually, the European crisis has turned into a social one, by transferring the financial problems into the social field. The objective of this article is to highlight some important effects arising from the financial crisis developments and have social and political implications across European countries. The view that the solution to the European crisis would be the application of the austerity policies has proved to be unsustainable, given that such measures have strained the relations between countries and also within countries. In the future, it remains the risk that the imbalances accumulation in the euro area, and more extended, in the European Union, would generate a polarization phenomenon in Europe by increasing the political dissensions between countries, and thereby would affect the default implementation of the European project

Suggested Citation

  • Criste Adina & Lupu Iulia, 2013. "The European Project beyond the Financial Crisis," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 179-183, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:179-183
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    Citations

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    Cited by:

    1. CRISTE, Adina, 2013. "A General Assessment Of The Monetary Integration Process In Europe After Euro Adoption," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 17(4), pages 35-47.
    2. CĂLIN, Adrian Cantemir, 2015. "Connection Of European Economic Growth With The Dynamics Of Volatility Of Stock Market Returns," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 19(1), pages 53-66.

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    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • F - International Economics

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