Unit-linked contracts are wrapped with some death, maturity and accumulation guarantees such as the guaranteed minimum maturity benefit, the guaranteed minimum death benefit, the guaranteed minimum accumulation benefit, the guaranteed minimum income benefit, and/or the guaranteed minimum...

The recent European sovereign debt crisis proved public debt issues should not be easily approached. While, prior to the crisis, public debt was of little concern in most of the developed European countries, as there had been no recent episodes of sovereign default, the crisis revived longtime...

Financing local activities at an appropriate level by reference to local communities’ development needs cannot be left, especially where these needs are major, solely to the account of ordinary resources, but loan resources must complete them. However, the existence of a legal framework...

The decentralization process was continuous in Romania starting with 1990, generating the implication of local authorities in local public finance, as a result of exclusives, shared and delegate competences and, so, the necessity of ensuring a good management of resources and expenditures....

On the background of the crisis, public finances rapidly deteriorated in many EU Member States struggling with economic recession. Therefore, fiscal consolidation was needed for improving public finances and turning them to a sustainable path. Authorities considered two main possible actions...

The aim of our paper is to underline the main characteristics of the business and economical environment and emphasise the negative implications of the recent economic crisis on a panel of EU member countries, namely:Bulgaria, Hungary, Latvia, Lithuania and Romania. The results of our research...

The current financial crisis has had a severe impact on the European financial systems, reinforcing the ongoing discussion about the scale, scope, performance, safety and soundness of the financial system and its institutions. In this context, the purpose of this research is to highlight, using...

The current global crisis has had tremendous effects on the banking sectors from the new EU member countries. In this context it becomes important to analyse how the crisis has affected these banking systems and also how the monetary authorities from these countries have reacted in such an...

The easy access to financing of enterprises in general and of small and medium enterprises (SMEs) in particular is of crucial importance, for it conditions their creation, survival and develop- ment, and, eventually, economic growth and the creation of workplaces. In comparison with large...

The access to finance is indispensable for the efficient allocation of capital and the enterprise development. However, when compared with large enterprises, small and medium enterprises face many difficulties when pursuing to procure financial resources. In Romania, the financial system is...