scholarly journals The Fiscal Compact and the European Constitutions: ‘Europe Speaking German’

2012 ◽  
Vol 8 (1) ◽  
pp. 1-7 ◽  
Author(s):  
LB ◽  
JHR
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Monetary Union ◽  
Euro Area ◽  
Economic And Monetary Union ◽  
Economic Policies ◽  
The European Union ◽  
The Czech Republic ◽  
The United Kingdom ◽  
Fiscal Compact

In between the writing of this editorial and the publication of this issue of EuConst, the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, in everyday parlance the ‘Fiscal Compact’, will have been signed by the representatives of the governments of the contracting parties — the member states of the European Union minus the United Kingdom and the Czech Republic. The Fiscal Compact is intended to foster budgetary discipline, to strengthen the coordination of economic policies and to improve the governance of the euro area.

EU Institutions Representing Member States’ Governments

2020 ◽  
Author(s):  
Eugenia Dumitriu Segnana ◽  
Alberto de Gregorio Merino
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Central Place ◽  
Common Interest ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Member States ◽  
National Policies ◽  
Greek Crisis

The Council of the European Union (EU) occupies a central place in the Economic and Monetary Union (EMU), even more so than in any other Union policies. It exercises in this area a variety of roles going from a forum for coordination of national policies to legislative functions and executive powers. The different crises that affected the Union and in particular the euro area in the last ten years have strengthened its prominent position, in no small part due to the Council’s ownership by the Member States. Alongside the Council, the Euro Group, which is presided by a fixed-term president, has developed itself as the informal forum where Ministers from the Member States whose currency is the euro discuss matters of common interest. Its role has been decisive, in particular in the Cypriot and Greek crisis, which could have put into question the very existence of the euro area as a whole.

European union: stability or instability for small periphery economies

2001 ◽  
Vol 10 (4) ◽  
Author(s):  
Serhan Çiftçioglu
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
Small Open Economies ◽  
The Czech Republic ◽  
Wage Indexation ◽  
Union Stability ◽  
Monetary Instability ◽  
The Eu

The main focus of this paper is to analyze the likely consequences of the possible increase in the monetary instability and decrease in the rate of wage indexation in the EU (that can result from the completion of economic and monetary union) on the macroeconomic stability of small, open economies which are in the process of integration with the EU. Such periphery countries include countries as Poland, the Czech Republic, Hungary, Slovakia, Turkey and others.

scholarly journals Risks of a slow-motion EMU reform

2019 ◽  
Vol 16 (2) ◽  
pp. 226-237
Author(s):  
László Andor
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Slow Motion ◽  
Critical Assessment ◽  
Economic And Monetary Union ◽  
Reform Process ◽  
The European Union ◽  
Eurozone Crisis ◽  
Pros And Cons

The article provides a critical assessment of how the Economic and Monetary Union was designed, implemented and reformed in the European Union and discusses the risks of a slow-motion reform process. It is argued that the fact that the euro area economy has recovered in the last few years has become a source of complacency and delays. In particular, powerful forces continue to downplay the importance of systemic reconstruction and the risk of disintegration remains high despite the relative tranquillity of markets in the 2014–2018 period. Finally, the article evaluates competing paradigms about the eurozone crisis and the pros and cons of fiscal capacity building.

Legislative changes within the Economic and Monetary Union after the 2007

2020 ◽  
pp. 55-78
Author(s):  
Katarzyna Kołodziejczyk
Keyword(s):  
European Union ◽  
Monetary Union ◽  
Euro Area ◽  
Detailed Examination ◽  
Financial Assistance ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Main Research ◽  
Research Questions ◽  
Legislative Changes

The global economic crisis of 2007 revealed a number of weaknesses in the Economic and Monetary Union (EMU). The Member States, together with the European Union institutions have made an effort to save the euro area by introducing a number of reforms for the functioning of the EMU. This article focuses on the analysis of legislative changes introduced to the euro area after 2007 in the fields of fiscal, economic, banking, and financial assistance. The documents constituting the EMU legislative changes package were a subject of a detailed examination. The main research questions were focused on the essence of weaknesses in the functioning of the EMU and the future of the euro area.

scholarly journals Treaty on Stability, Coordination and Governance in the Economic and Monetary Union as an Instrument of Fiscal Policy Coordination in the European Union

2013 ◽  
Vol 4 (2) ◽  
pp. 5-20 ◽  
Author(s):  
Kamil Kotliński
Keyword(s):  
European Union ◽  
Fiscal Policy ◽  
Monetary Union ◽  
Policy Coordination ◽  
Economic And Monetary Union ◽  
Fiscal Policies ◽  
The European Union ◽  
Euro Zone ◽  
Fiscal Compact ◽  
Fiscal Policy Coordination

The aim of this study is to assess the Treaty on Stability, Coordinationand Governance in the Economic and Monetary Union as an instrument fiscalpolicy coordination and identify some of the consequences that potentially carriesits use. All EU-members conduct independent fiscal policies, regardless of whetherthey are members of the euro zone or not. It is now known that one of the immediatecauses of the crisis in part the euro zone countries was permanent crossingfiscal convergence criteria as a result of an erroneous and irresponsible fiscalpolicy. Used so far forms of coordination of fiscal policies were too weak to preventthe destabilization of the Member States' public finances. The crisis has becomethe impetus for build deeper integration in the area of fiscal policy. Treaty onStability, Coordination and Management, called briefly Fiscal Compact or TSCG,is another instrument of fiscal policy coordination in the European Union. In largepart it is a repetition and a little evolution of the Stability and Growth Pact. Thisstudy indicated some disadvantages of the Fiscal Compact, what has the potentialto lead to its inefficiency. These are: reference to the structural balance, which isa relatively small transparency budgetary rule for the public opinion and becauseof the existence of several competing methods for its calculation; the Treaty providesfor the possibility of "extraordinary circumstances" and does not specify theterm balanced budget, which is a softening of fiscal discipline and opens opportunitiesfor political bargaining; financial penalties imposed on overdebt governmentswill not improve their situation. The Treaty on Stability, Management and Coordination does not constitute a breakthrough in the coordination of fiscal policiesin the European Union.

scholarly journals Comparison of the selected conditions of the small and medium-sized enterprise in the Czech Republic and EU

2009 ◽  
Vol 57 (3) ◽  
pp. 55-64 ◽  
Author(s):  
Helena Chládková
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Private Sector ◽  
Small Firms ◽  
Professional Activity ◽  
The European Union ◽  
Recent Period ◽  
Total Employment ◽  
The Czech Republic ◽  
The United Kingdom

Companies classified as small and medium-sized enterprises (SMEs) account for a large proportion of Europe’s economic and professional activity. In practice, 99 % of business in the European Union are SMEs, and they provide two–thirds of all private sector jobs. So small firms are, in fact, the real ­giants of the European economy. Micro–business dominate employment in countries such as Italy 47 % and Poland 41 %, whilst the share of large enterprises in total employment in the United Kingdom is just 46 %.During the recent period of time there have been many researchers from the FBE MUAF in Brno, who focused on the analysis of the small and medium-sized enterprise, e.g. Nerudová (2006); Nerudová and Bohušová (2006); Kubíčková and Presová (2006); Zrůst and Pyšný (2008); Živělová and Zichová (2002).This paper is the part of the Research proposal MSM 6215648904 being solved at the FBE MUAF in Brno.

Sign in / Sign up

Export Citation Format

Share Document