Contemporary Initiatives for Development of Fiscal Integration Within the European Union Cover Image

Съвременни инициативи за развитие на интеграцията в областта на фискалната политика на Европейския съюз
Contemporary Initiatives for Development of Fiscal Integration Within the European Union

Author(s): Hristo Draganov
Subject(s): Politics / Political Sciences, Politics, Economy, Supranational / Global Economy, Economic policy, Public Finances, Fiscal Politics / Budgeting
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: European Economic Governance; Fiscal Integration
Summary/Abstract: The necessity to complement the European Monetary Union with integration in the field of member states’ public finance leads to the taking of initiatives by the Commission aimed at developing fiscal integration in the European Union (EU). The contemporary development of fiscal integration within the EU can be characterized by the initiatives in the period after the adoption of the two Regulations designed to strengthen the euro area budgetary surveillance ("Two-Pack"). The initiatives for development of the fiscal integration within the EU evolve over time. They start by setting ambitious goals and pass to moderate proffers. The suggested stages of fiscal integration include transition from surveillance of the national budgetary policies, to their coordination, subsequently to their correction, combined with relevant centralized authorities and financial funds, to reach fiscal union which at the time does not have fully specified characteristics.

  • Page Range: 145-152
  • Page Count: 8
  • Publication Year: 2016
  • Language: Bulgarian