ECONOMIC AND POLITICAL IMPLICATIONS OF THE POLAND'S ACCESSION TO THE EUROPEAN FISCAL UNION

摘要

Over the past three years, the governments have acted decisively on both national and international levels to avoid financial and economic crisis. This has led to large structural deficits and growing debt putting at risk the fiscal sustainability. Therefore the fiscal consolidation has become the basis for the current policy conducted across the OECD area. However the Polish economy managed to avoid the recession in 2009 despite the fact that it has one of the highest budget deficits. That is why an idea of the Poland's accession to the European Fiscal Union is worth analyzing.