The Global Financial Crisis as a Serious Threat to the National Security in the Countries in Transition Economy - Kosos Case
The Global Financial Crisis as a Serious Threat to the National Security in the Countries in Transition Economy - Kosos Case

Summary/Abstract: The prevention and the minimization of the negative effects that have derived from the financial global crisis lay down on governmental institutions through the implementation of the economic-legal measures which scientifically are also known as a state intervention. More than two years have passed since this commitment commenced in U.S. and in Western Europe countries, which are widely known with a liberal economic system. In global extent, bailing out of the banks it has been considered the tool through which the fundamental goal is achieved- preservation of the economy from collapse. Recently, the logic of the broadened economic liberalization system has shown signs of apathy and inefficiency. In Kosovo being a newly found state nobody insofar has not stated clearly nor seriously any action that needs to be undertaken to bail out in terms of the financial crisis. Due to the significance that this crisis constitutes it requires rapidly to find and undertake the appropriate actions. The role of the state intervention is not only inevitable but it is imperative and such actions are to be very specific, reasonable, effective and constructive. The primary outcome that derived from this situation is the fact that banks are creating a special relationship with the state. Trying to avoid profound current political issues, the role of the state needs to be focused on economic and legal policies, in course of strengthening the banking system, credit market system, protection of investments, amendment of the tax policies including the capital incentives. It is compulsory, as long as it is not too late, that the respective institutions of the Republic of Kosovo need to be much more committed in terms of establishing strategies against this crisis. This strategy would require intervention policies and measures of economic nature as well as legal instruments that would enable the immunization of the national economic system and at least to be capable to bail out the pension fund, fund out of the privatization process and those very few savings made by the citizen within the banking system.

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