The Economic and Financial Crisis in the Context of the European Union
José Ramón García Menéndez

Abstract
The objective of tits research is to analyze the failure of the Stability and Growth Pact following the economic and financial crisis of 2007. To that end, following a brief study in the first paragraph of the evolution of the SGP from its origin to its reform in 2005 is discussed, in paragraph two, the effects of the crisis in the EU, focusing on the impact on budgetary positions and on the public debt. In the third section is analyzed the cases of each Member State that has breached the SGP following the economic crisis. For tits we have chosen to follow uniform guidelines for study, based on a preliminary analysis of the economic context of the country during the last decade, with the most recent data available and prospects in the medium term, then continue with the study the measures implemented by the European Commission as a result of the excessive deficit registered in those countries, and conclude by referring to the consistency or inconsistency presenting the latest updates of the stability and convergence programs.

Full text: PDF