Treaty on European Union requires the Member States to consider the economic policies as a matter of common interest and to have fiscal policy guided by the need to ensure sound public finances. Global economic and financial crises have exposed the weaknesses of the economic and fiscal...

Starting from 2008 worsening crisis events had grave repercussions for the state of public finances in the Euro-zone and the EU. Within a short time, debt to GDP ratios for the sector of government and local institutions rapidly soared across almost all EU member states, therefore shattering...

This article aims to present the summary of issues related to Economic and Monetary Union (EMU) in the context of EU enlargement, analyzing legal rules and practical problems appeared. EMU Stability and Growth Pact is a challenge for Member States in circumstances where exactly the European...

The stability pact emphasizes monetary priorities in a European policy context. It is steeped in the spirit of fundamental skepticism vis-à-vis state intervention in structural developments and economic cycles and vis-à-vis all attempts to justify public indebtedness.