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2014•RePEc: Research Papers in EconomicsRequires access

THE IMPACT OF THE PUBLIC DEBT ON THE EUROPEAN UNION MEMBER COUNTRIES

Gheorghe Matei, Luiza Apostol

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Abstract

Developed countries are faced with significant risks based on the problem of the increasing public debt. The most recent assessments bring to the forefront clear perspectives regarding the expansion of the period of economic uncertainty until 2020, which is why certain countries, especially those in the Euro area, were forced to resort to a number of austerity measures. However, it is unlikely that the countries in distress will easily restore, only by austerity, manageable public debt levels, especially under the current population aging conditions. This paper comprises an analysis of the countries in the Euro zone that were the most affected by the economic and financial crisis from 2008-2010. Besides these countries I also made an analysis of the Romanian government debt.

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Developed countries are faced with significant risks based on the problem of the increasing public debt. The most recent assessments bring to the forefront clear perspectives regarding the expansion of the period of economic uncertainty until 2020, which is why certain countries, especially those in the Euro area, were forced to resort to a number of austerity measures. However, it is unlikely that the countries in distress will easily restore, only by austerity, manageable public debt levels, especially under the current population aging conditions. This paper comprises an analysis of the countries in the Euro zone that were the most affected by the economic and financial crisis from 2008-2010. Besides these countries I also made an analysis of the Romanian government debt.

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Available abstract

Developed countries are faced with significant risks based on the problem of the increasing public debt. The most recent assessments bring to the forefront clear perspectives regarding the expansion of the period of economic uncertainty until 2020, which is why certain countries, especially those in the Euro area, were forced to resort to a number of austerity measures. However, it is unlikely that the countries in distress will easily restore, only by austerity, manageable public debt levels, especially under the current population aging conditions. This paper comprises an analysis of the countries in the Euro zone that were the most affected by the economic and financial crisis from 2008-2010. Besides these countries I also made an analysis of the Romanian government debt.

Key concepts: Austerity, Debt, Economic policy, Eu countries, Population, Romanian, Economics, European union

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