This study is carried out against a backdrop of deep divisions in Greece and in Europe over how to handle the challenges now confronting Greece. Greece’s deeper medium-term policy needs and identifying ways to replace the expected market financing are discussed. Structural reforms tackled...

State budget is the fundamental document of state economy. State budget balance reflects state economy. Deficit reported in a state budget in the long-term threatens long-term effective functioning of a state. This article aims at pointing out risks arising in the public finance of Slovakia and...

Since the beginning of the crisis, which occurred in 2008, the European Union has taken a series of measures to stem the financial crisis. One of these has been the Fiscal Compact. The Fiscal Compact is an International Treaty signed by 25 countries of the European Union. Ever since it was...

The ‘comprehensive socialization of investment’ was a key policy goal of The General Theory. And yet, empirically, we have seen a decline in the public investment share in most OECD countries since the economic crisis of the 1970s. In this paper we study several issues concerning...

The article analyzes the need, role and principles underlying good governance in the European Union, namely: openness, participation, accountability, effectiveness and cohesion. Subsequently, the research continues with the definition of the fiscal federalism concept, focusing on the benefits of...

Die derzeit hohen Überschüsse in den öffentlichen Haushaltenwerden deutlich zurückgehen: Bereits im kommenden Jahr sinkt der Finanzierungssaldo von 26 Milliarden auf vier Milliarden; im Jahr 2018 werden die öffentlichen Haushalte mit einem leichten Defizitabschließen. In der mittleren und...

This paper presents new evidence about privatisation processes and their determinants from a panel of 34 countries over the 1977-99 period. The empirical analysis shows that privatisation takes place typically in wealthy and democratic countries, endowed with deep and liquid stock markets, and...