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IMPLICATIONS OF FISCAL CONSOLIDATION IN EU ON THE BACKGROUND OF

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Author(s): Elena TOMA | Marius FRUNZĂ

Journal: Annals of the Stefan cel Mare University of Suceava : Fascicle of the Faculty of Economics and Public Administration
ISSN 2066-575X

Volume: 11;
Issue: 2(14);
Start page: 214;
Date: 2011;
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Keywords: fiscal consolidation | public debt | fiscal deficit | taxes | economic crisis | economic growth

ABSTRACT
The process of fiscal consolidation, initiated at EU level, since the last decade are a necessity now, thesituation is significantly deteriorating for most of the Member States, as a result there is the occurrence andmanifestation of economic and financial crisis. Recovery and promote growth, the goal outlined in the new Europeanstrategy, is including among the influences or is affected by its implementation, as we show in our analysis. Theimplications of fiscal consolidation process related to a number of costs and limited, on the one hand, due to thecurrent crisis, and on the other hand, the need rallying Member States wishes strategy pursued by the "Europe 2020".Against this background, our paper aims to highlight possible solutions to the remaining public authorities inimplementation of fiscal consolidation. Also, a study compared the economic situation, the level and trend of budgetdeficit and public debt, in Member States of the European Union in 2007-2010, allowed us to identify and group theMember States according to the constraints on they are subject in the recovering of the situation of public finances.
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