ФИСКАЛНА ПОЛИТИКА НА ЕВРОПЕЙСКИЯ СЪЮЗ – СЪЩНОСТ, РЕФОРМИ И ИНСТРУМЕНТИ ЗА БОРБА С ПОСЛЕДИЦИТЕ ОТ ЕВРОПЕЙСКАТА ДЪЛГОВА КРИЗА
EUROPEAN UNION FISCAL POLICY – DEFINITION, POLICY REFORMS AND INSTRUMENTS TO COUNTER THE NEGATIVE EFFECTS OF THE EUROPEAN DEBT CRISIS

Summary/Abstract: The study shows the nature of the fiscal policy as an integrated part of the modern economic life of the European Union’s governing institutions as well as the governments of the member states. The necessity for such national and supranational policy is further exacerbated by the rapidly worsening government debt shocks at the end of 2009 and the beginning of 2010. The fiscal policy reforms that were conducted in order to counter the strong negative effects of the European debt crisis are outlined in detail. The instruments (i.e. EFSF, EFSM, etc.) implemented in assistance of the member states in serious difficulties that were consequence both of the crisis and the improper management policy over the years, were analyzed. An emphasis is placed on the need for an appropriate fiscal policy to ensure the proper functioning of the European Union, as an independent organization and as an integrated coalition of European econ-omies and governments.

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