THE EVALUATION OF EUROPEAN UNION MEMBERSHIP IN THE FRAME OF MAASTRICHT CRITERIA IN TERMS OF ECONOMIC STABILIZATION
Economic stabilization which means execution of smooth and predictable macroeconomic performance is an important financial issue for many countries or country groups. European Union has taken many steps about economic stability with the contracts and cooperation it has done since its foundation. In...
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| Autores principales: | , |
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| Formato: | article |
| Lenguaje: | DE EN FR TR |
| Publicado: |
Fırat University
2019
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| Materias: | |
| Acceso en línea: | https://doaj.org/article/e7851eab055e436f9c8ee19f99598b53 |
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| Sumario: | Economic stabilization which means execution of smooth and predictable macroeconomic performance is an important financial issue for many countries or country groups. European Union has taken many steps about economic stability with the contracts and cooperation it has done since its foundation. In this frame, Copenhagen criteria and Maastricht criteria come into the prominence. Although Copenhagen criteria which is grouped as economic, political and adjustment criteria has economic side, it is rather political. The criteria includes democracy, supremacy of law, respect for the minority, identification and protection of human rights, acceptance of political, economic and monetary union of European Union and adaptation to decisions taken and laws implemented. Maastricht criteria have the aim of converging economies of member countries. For this reason it calls for price stabilization, sustainability of public finance positions, specific standards and enforcements in interest rate and exchange rates. The main issue of the study is whether European Union which has reached at serious magnitude and economic and political power in the world through the expansion waves has contribution to the economic stabilization of member countries. Masstricht criteria mentioned above were based on while answering this question. The mentioned study is a comparative study. In this study, inflation, public debt burden (GDP%), balance of payments (GDP%) of EU countries and indications about interest rates were used. The data were obtained from Eurostat (European Statistical Institute) and European Union Central Bank –ECB). The years and countries analyzed in the study were chosen according to the data accessed. |
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