Bank rescues and fiscal policy in the European Union during the great recession | Zendy

Jesús Ferreiro | Zendy; Catalina Gálvez | Zendy; Carmen Gómez | Zendy; Ana González | Zendy

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Bank rescues and fiscal policy in the European Union during the great recession

Author(s) -

Jesús Ferreiro,

Catalina Gálvez,

Carmen Gómez,

Ana González

Publication year - 2016

Publication title -

panoeconomicus

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.289

H-Index - 14

eISSN - 2217-2386

pISSN - 1452-595X

DOI - 10.2298/pan1602211f

Subject(s) - recession , consolidation (business) , european union , economics , great recession , economic policy , financial crisis , fiscal policy , fiscal union , psychological intervention , financial system , international economics , finance , macroeconomics , labour economics , psychology , psychiatry

The outbreak of the economic and financial crisis in 2008, the socalled Great Recession, has made that many European Union countries have made massive interventions in their banking and financial systems. These interventions have had a considerable impact in the public finances of these countries. The aim of the paper is to analyze the impact on the national public budgets of the measures of public support to problem financial institutions carried out between the years 2008 and 2013, and to study how this budgetary impact has affected to the fiscal imbalances and to the strategies of fiscal impulse and consolidation implemented along these years

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