EUROPEAN UNION’S FINANCIAL INSTRUMENTS FOR ECONOMIC RECOVERY OF THE MEMBER STATES
Journal Title: Annales Universitatis Apulensis series Oeconomica - Year 2009, Vol 11, Issue 1
Abstract
The harsh conditions that marked the evolution of the Romanian financial system were strongly marked by the manifestation of the global financial and economic crisis. In the early period of the crisis, the Romanian economy already passed through a period of growth in high rates, but accompanied by the accumulation of a crucial deficit and of an increasing short-term external debt. The domestic financial system is currently under pressure from international financial turbulences and the risks of a financial collapse are growing. The decrease of the financial fireworks with public money led to a greater importance given to the fiscal system. Generaly, the need to seek new funding sources and an increasing attention to how public money is spent, were felt. An important role in Romania's economic recovery and thus in overcoming the adverse effects of the crisis is held both by external funding sources and by the effort of the state institutions to attract local and national new sources of finance in the context of intelligent management of monetary resources available to them. The purpose of this work is to give readers a quick view on some of the measures taken at the community’s level to combat the effects of the global financial crisis, as well as on the main structural tools that are used at European level to ensure uniform development of EU’s regions by reducing disparities between regions, the context in which local authorities are responsible for attracting and managing financial instruments allocated for this purpose.
Authors and Affiliations
Ioan Lazăr
Keywords
Related Articles
- EP ID EP160385
- DOI -
- Views 104
- Downloads 0
DECENTRALIZATION AND LOCAL AUTONOMY - LOCAL PUBLIC MANAGEMENT DEFINING PRINCIPLES
In the context of multiplication and diversification of the requirements and social needs, public administration, together with its authorities needs to operate through its entire activity to meet and resolve, under the...
DETERMINANTS OF THE AGRICULTURAL PRODUCTIVITY GROWTH AMONG ROMANIAN REGIONS
Productivity is the synthetic expression of the efficiency with which production factors are being used and mattes the competitiveness of economic systems. This study aims to analyze agricultural productivity growth amon...
QUALITATIVE FACTORS OF MATERIALITY - A REVIEW OF EMPIRICAL RESEARCH
Determination of materiality is a crucial step in an audit mission because it affects the entire audit process. The incorrect application of materiality can have serious negative repercussions on both the audited entity...
ROMANIA'S REAL CONVERGENCE TO THE EUROPEAN UNION
In the process of European integration, switching in 1999 to the third stage of Economic and Monetary Union, has intensified the need to coordinate economic and sectoral policies of the Member States. The process of coor...
MODERN MANAGEMENT METHODS FOR EQUIPMENT MAINTENANCE
The concept of maintenance in the field of complex equipment was developed in the USA being quickly adopted by European countries and Japan. The American maintenance concept has the significance of creating a support sys...