PROPOSALS AND SELECTED MEASURES OF EUROPEAN UNION HOW TO DEAL WITH FINANCIAL AND DEBT CRISIS
Pages: 1083-1096 Published: 29 Aug 2014
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Abstract: During the crisis and post-crisis years was designed and adopted a whole series of measures at both national and the EU-levels. It turned out that the EU-wide conceived solutions cannot solve national problems. There are no indisputably effective central strategic instruments and their application seems to be problematic as well. This is due to insufficient efforts of domestic politicians to effectively enforce these measures. Therefore, for several years the measures adopted at the supranational level have been only short-term, stabilization and ad hoc ones, often at or beyond the limits of primary law. This paper deals with a critical analysis of two proposals of European institutions - common European bonds and taxes on financial transactions, sometimes referred to as the Tobin tax. Essential objectives and characteristics of Fiscal Pact and rescue funds are presented in another part of this article.
Keywords: european union, crisis, common bonds, tax on financial transaction, fiscal pact, rescue funds