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The European Union General Budget, Policy of Stabilization and Economic Crisis

Author

Listed:
  • Maciej Cieślukowski

    (Department of Public Finance, Poznań University of Economics, Poland)

Abstract

Since the Lehman Brothers Bank has declared bankruptcy and launched the world financial crisis, many governments and international institutions have taken different actions in order to counteract negative effects of the crisis. European Union introduced the European Economic Recovery Plan for the years 2009 and 2010 and boosted the borrowing and lending operations outside the general budget. The article tries to assess the role EU general budget in countering the 2008 crisis. Before the crises and presently the EU general budget has been a weak instrument of macroeconomic stabilization policy. The borrowing and lending operations and EFSF mechanism play the crucial role in stabilization.

Suggested Citation

  • Maciej Cieślukowski, 2012. "The European Union General Budget, Policy of Stabilization and Economic Crisis," Economic Research Guardian, Mutascu Publishing, vol. 2(2), pages 225-240, December.
    • Handle: RePEc:wei:journl:v:2:y:2012:i:2:p:225-240
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    More about this item

    Keywords

    Crisis; EU general budget; Function of stabilization;
    All these keywords.

    JEL classification:

    • H87 - Public Economics - - Miscellaneous Issues - - - International Fiscal Issues; International Public Goods
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems

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