engleski

Monetary Measures and Fiscal Policy Patches for Monetary Union during the Global Economy’s Crisis: Problems of European Union, Revisited

In terms of global economy’s crisis old dilemmas about the monetary and fiscal policy coordination within (European) monetary union are revisited. Unconventional measures of common monetary and (reformed) strategies of fiscal policy are still searching the optimal policy mix for crisis recovery. At the same time, member countries face asymmetric shocks with limited defence strategies, so the costs of membership have increased, generating fears about the European future and raising the level of euro scepticism. This paper is focused on the current problems of fiscal and monetary policies in European Union member countries and has several goals. First goal of the paper is to analyse the background of the fiscal and monetary policy coordination within the European Union. Second, the paper provides a review of the crisis measures and their performance. That, consequently, (re)opens the problem of coordination between the two policies in a monetary union that is also discussed. Finally, a review of the possible future scenarios is closing the research presented in the paper.

monetary measures ; fiscal policy patches ; European Union

nije evidentirano