Remedial Measures for Public Finance in the European Union Countries

Abstract

The subject of this article is an attempt to find effective remedial measures to reduce problems concerning public finances in the European Union countries. As a result of the global financial crisis, budget deficit and national debt is boosting in these countries significantly. In most of them the fiscal requirements established by the Treaty of Maastricht and the Stability and Growth Pact are not obeyed. This situation shows that some decisive steps should be taken to inhibit further growth of public debt in the European Union countries.