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Theoretical and Applied Economics
No. 11 / 2013 (588)

Between fiscal discipline and economic recovery. The solutions problem

Anca Maria GHERMAN
The Bucharest University of Economic Studies
The Bucharest University of Economic Studies

Abstract. In this study we proposed a comparative analysis of the effect of the measures taken in seven European countries, which were aimed the fiscal consolidation, in correlation with monetary policy and economic recovery. The selected countries have been systematized into two groups: first group includes states that have signed agreements with international financial institutions (Romania, Ireland, Greece and Portugal) and the second group contains countries which, even if not directly assisted in the international funding programs, have take a several adjustment measures (Italy, Spain and France). In the same time, we keep in mind during the analysis the trade-off between fiscal discipline and sustainable economic recovery.

Keywords: fiscal consolidation; economic recovery; adjustment measures; monetary policy; international funding.

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