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Reform of the EU's Own Revenues and Covering the Expenditures Incurred by the Corona Crisis

100%

Nevečeřalová N.

Financial Law Review

2021

vol. 22

issue 3

115-127

This contribution focus on the revenue side of the EU budget, which consists of own resources, divided into traditional resources, income in the form of a share of value-added tax, and gross national income. On 21 July 2020, the European Council agreed on a multiannual financial framework for the period 2021-2027, and in response to the pandemic situation associated with Covid-19, a temporary recovery instrument for the next generation of the EU was agreed. At the same time, from which it was apparent that it is necessary to find new own resources for the EU, and how the European Stability Mechanism (ESM) could be used to the consequences of the corona crisis. The author will focus mainly on issues on the revenue side of the Union budget and the role of the ESM. Within the ongoing debates when the result was the coronavirus response the question arises of whether it would be appropriate and effective to introduce a common tax for the EU. The main aim of the contribution is to use the descriptive method, the method of analysis and synthesis the revenue side system of the EU budget, and the reform efforts that culminated in the reform of own resources. In the last part of the article, the author using a descriptive method on how the ESM was activated as one of the walls to maintain the stability of the euro area. Including the view of introducing a common European tax as a fiscal instrument to cover the expenditures (debt) incurred related to coronavirus response i.e. recovery instrument Next Generation.

SOVEREIGN DEBT CRISIS OF THE EUROZONE COUNTRIES

86%

Miklaszewicz S.

Oeconomia Copernicana

2016

vol. 7

issue 3

357-373

The aim of the publication is to examine the fiscal position of the euro area countries and fiscal policy architecture in Europe after the outbreak of the financial and economic crisis started in 2008. The first part of the publication consists of the analyses of the budgetary situation of euro area countries and complications with the increasing costs of servicing the public debt in the European market affected by the financial liquidity crisis. In the second section the most important changes in the framework of budgetary policies coordination process in the euro zone are presented. The final section describes the role and activities of the European Central Bank in minimising the negative consequences of the debt crisis in the euro zone.

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Reform of the EU's Own Revenues and Covering the Expenditures Incurred by the Corona Crisis

SOVEREIGN DEBT CRISIS OF THE EUROZONE COUNTRIES