MEASURES AND INSTRUMENTS USED AS A RESPONSE TO CRISES IN EUROPEAN UNION - AN OVERVIEW

Abstract

During latest times, financial crises have been a common occurrence in emerging market (and transition) countries with negative influence for the economies. Financial crises have had negative effects on real output, work force, poverty and political instability. Latest crises (2008) that struck US become international, its consequence being received in European countries too. This paper wants to discuss some intervention measures taken in the European Union Area and some importants funds used as tools for crises fighting. The European Economic Recovery Plan and EU funding mechanisms (The European Social Fund (ESF) and The European Globalization Adjustment Fund (EGF)) are taken into discussion.

Keywords

• Crises prevention instruments , financial system, The European Economic Recovery Plan and EU funding mechanisms (The European Social Fund (ESF) and The European Globalization Adjustment Fund (EGF)