THE PURPOSE OF A EUROPEAN MINISTER OF ECONOMY AND FINANCE AND ITS IMPACT ON ROMANIAN PUBLIC FINANCE LAW
THE PURPOSE OF A EUROPEAN MINISTER OF ECONOMY AND FINANCE AND ITS IMPACT ON ROMANIAN PUBLIC FINANCE LAW

Summary/Abstract: The evolution of the EU fiscal policy over the last 10 years since the financial crisis caused many public debates and it is not over yet. Currently the Member States have the possibility and the obligation to coordinate their economic policies and to address the economic challenges under the European Semester procedure. The last speech “State of the Union Address” of the Jean-Claude Juncker, the European Commission President, on 13 September 2017 generated a new discussion related to the role and position of a new to be created post of a European Monetary Fund and Economy and Finance Minister. The European Commission presented on 6 December 2017 a set of proposals regarding the next steps for further deepening Europe's Economic and Monetary Union (EMU). The paper will present the current obligations of the EU countries as resulted from the existing legal provisions during the year in order to ensure sound public finance and to prevent excessive macroeconomic imbalances. Also, it is interesting to analyse the current roles of the European Commission and the Council in the fiscal policy of the member states and to identify the possible impact of the new proposal on the current obligations of a member state and on the Romanian public finance law.

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