Aspects of the Current Fiscal - Budgetary Situation in Some Euro Area Countries. Implications for Romania

Abstract

The financial and economic global crisis has exacerbated some of the imbalances existent inall EU Member States, in particular the fiscal-budgetary imbalances. For some countries whosecurrency is euro, the fiscal and budgetary challenges seem to threaten even the stability of the euroarea. Thus, in the context of financial and economic global crisis, this article aims at identifying anumber of negative aspects of the fiscal-budgetary situation of some euro area countries, moreseriously affected (Greece, Italy, Portugal, Ireland, Spain) and at revealing a series of possibleimplications of this phenomenon for Romania, thus giving originality of the conducted analysis. Afulcrum in this approach is the economic literature and the authors’ research work in the field ofEuropean integration. Through a comparative approach, the authors have identified some weaknessesof the Romanian economy generated by the current situation of some euro area countries. Given theplace of the theme within the frame of present interest researches, the article’s results will be of interestfor both academics and practitioners