The economic and social cohesion policy of the European Union has two inter-related components, namely the vertical cohesion, referring to the alleviation of social disparities and the solidarity with the disadvantaged social groups, and the horizontal cohesion, which concentrates on the...

After less than two years from its accession to the EU, Romania was seriously hit by the global financial and economic crisis. Compared to other former transition countries, the turmoil was deeper and lasted longer and a modest recovery was recorded only in the second half of 2011, given deep...