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Proposals And Selected Measures Of European Union How To Deal With Financial And Debt Crisis

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  • Michaela Ševčíková

Abstract

During the crisis and post-crisis years was designed and adopted a whole series of measures at both national and the EU-levels. It turned out that the EU-wide conceived solutions cannot solve national problems. There are no indisputably effective central strategic instruments and their application seems to be problematic as well. This is due to insufficient efforts of domestic politicians to effectively enforce these measures. Therefore, for several years the measures adopted at the supranational level have been only short-term, stabilization and ad hoc ones, often at or beyond the limits of primary law. This paper deals with a critical analysis of two proposals of European institutions - common European bonds and taxes on financial transactions, sometimes referred to as the Tobin tax. Essential objectives and characteristics of Fiscal Pact and rescue funds are presented in another part of this article.

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  • Michaela Ševčíková, 2014. "Proposals And Selected Measures Of European Union How To Deal With Financial And Debt Crisis," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 8(1), pages 1083-1096.
    • Handle: RePEc:isp:journl:v:8:y:2014:i:1:p:1083-1096
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    1. Hasan Doluca & Malte Hübner & Dominik Rumpf & Benjamin Weigert, 2012. "The European Redemption Pact: Implementation and macroeconomic effects," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 47(4), pages 230-239, July.
    2. Jakob von Weizsäcker, 2011. "Eurobonds- The blue bond concept and its implications," Bruegel Policy Contributions 509, Bruegel.
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    More about this item

    Keywords

    european union; crisis; common bonds; tax on financial transaction; fiscal pact; rescue funds;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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