IZVEŠTAJ KOMISIJE O JAVNIM FINANSIJAMA U EKONOMSKOJ I MONETARNOJ UNIJI ZA 2011. GODINU

Novičić Žaklina (Институт за међународну политику и привреду, Београд),

The European Commission has just published the 2011 Report on Public Finances in the EMU (12.9.2011). The report observes the recent developments in public finances in the EMU, setting out the evolution of the Member States’ fiscal policies in the wake of the current crisis, analysing new ways of assessing debt sustainability and describing the changes in the EU budgetary surveillance. These reforms put prevention and debt reduction in the focus of the EU budgetary surveillance in an attempt to reflect on the lessons to be learnt from the crisis. The article presents a summary of the Commission’s findings.

Keywords: EMU, Public Finances, debt sustainability, budgetary surveillance, reform