| Abstract [eng] |
Stability and Growth of Pact Mechanism Legal Regulation and its Problems of Application in the EU Member States Master thesis subject is highly topical due to the fact that prudent fiscal policies ensure stable public finances and creates conditions for sustainable economic growth. The Stability and Growth Pact is considered to be the cornerstone of this policy, it is important to analyze the mechanism of legal regulation and identify emerging problems. Thus, the aim of the present paper is to summarize the legal framework, requirements for member states and define the main legal gaps that have become an issue in the legal practice. The analysis of the Stability and Growth Pact forming legislation and European Union Institutions resources revealed that the Stability and Growth Pact and its application reveals a range of issues, such as: laconic provisions and the Stability and Growth Pact application flexibility, breach of equality principle between Member States, the European Union institutions discretion, the lack of automatism, not functional system of sanctions. The present paper consists of four parts. The first two parts are focused on identification of the Stability and Growth Pact using proper theoretical resources, the development of the purpose, function and object. This paper work revealed the importance of the subject at both national and international levels, the reasons for modifications and regulations. Third brace is devoted to the Stability and Growth Pact, forming a legislative analysis, highlighting the predominant mechanism and its regulation. In addition, a practical situation is presented, which is to reveal the prevailing problems. The last part of Master Thesis paper is focused on the countries currently facing fiscal discipline problems. It reveals the new or already observed legal efficiency problems and allows to determine reasons why the corrective part of the Stability and Growth Pact, for Member States is applied almost a decade. |
