MONETARNO–FISKALNA INTERAKCIJA I JAVNI DUG U EVROPSKOJ UNIJI U USLOVIMA GLOBALNE EKONOMSKE KRIZE
DOI:
https://doi.org/10.59864/FinAdv310202IMKljučne reči:
Evropska unija, javni dug, monetarna politika, fiskalna politika, EvrozonaApstrakt
Rad analizira odnos između monetarne i fiskalne politike u Evropskoj uniji sa posebnim osvrtom na krizu javnog duga zemalja članica u kontekstu globalne ekonomske krize 2008. godine. Uvođenje zajedničke valute evra doprinelo je produbljivanju ekonomske integracije, smanjenju transakcionih troškova i olakšanom pristupu kapitalu, ali je istovremeno dovelo do strukturne asimetrije između centralizovane monetarne politike i decentralizovanih fiskalnih politika država članica. Ova neusklađenost omogućila je rast javnog duga u pojedinim zemljama, posebno u Grčkoj, Portugalu, Španiji, Irskoj i Italiji. Globalna finansijska kriza 2008. godine razotkrila je slabosti ovakvog institucionalnog okvira, dovodeći do prekida kreditnih tokova, problema u refinansiranju duga i potrebe za intervencijama Evropske unije i međunarodnih finansijskih institucija. Mere fiskalne konsolidacije i finansijske pomoći privremeno su stabilizovale situaciju, ali su istovremeno ukazale na dugoročni problem nedostatka fiskalne koordinacije unutar Evrozone. Rad zaključuje da je za dugoročnu stabilnost zajedničke valute neophodno usklađivanje monetarne i fiskalne politike, pri čemu se kao potencijalno rešenje ističe formiranje fiskalne unije na nivou Evropske unije.Preuzimanja
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