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EU fiscal consolidation strategies in times of crisis – comparative approaches

Author

Listed:
  • Irina BILAN
  • Florin OPREA

    (UNIV “AL. I. CUZA” IASI)

Abstract

On the background of the crisis, public finances rapidly deteriorated in many EU Member States struggling with economic recession. Therefore, fiscal consolidation was needed for improving public finances and turning them to a sustainable path. Authorities considered two main possible actions (decreases in budgetary expenditures or increases in revenues), but implementing them proved not to be so easy when government’s engagements were already made. This paper reveals the main theoretical requirements of fiscal consolidation strategies, in relation with some EU Member States’ fiscal consolidation plans, taking into discussion the fiscal background, the consolidation needs and the commitments and intentions of governments as an expression of their strategies.

Suggested Citation

  • Irina BILAN & Florin OPREA, 2012. "EU fiscal consolidation strategies in times of crisis – comparative approaches," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 887-894, May.
    • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:887-894
    as

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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012/kssue2012_145.pdf
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    fiscal consolidation; fiscal strategies; economic crisis; EU Member Sates;
    All these keywords.

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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