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Fiscal rules in the Czech republic after joining the EU
Šafránek, Patrik ; Ježek, Tomáš (advisor) ; Vebrová, Ludmila (referee)
This thesis concerns fiscal rules which represent a possible solution of excessive deficits of public budgets. The chosen topic is very relevant as most developed countries are now facing the problem of fiscal imbalance. The aim of the thesis is to analyze existing rules in the Czech Republic and to formulate recommendations for its public budgets with regard to the specifics of the economic and political environment. The main hypothesis is that fiscal rules in the Czech Republic are not well designed and do not contribute to the stabilization of public finances. This hypothesis was partially proved true. Proposal to strengthen the fiscal framework by implementation of the reform of medium-term expenditure frameworks and by adopting debt rule at the constitutional level results from the realized findings. Further recommendation is to establish independent fiscal institution that would oversee the fiscal policy in the Czech Republic.
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The Stability and Growth Pact and its implications for relations between Eurozone countries
Voříšková, Tereza ; Sršeň, Radim (advisor) ; Dubský, Zbyněk (referee)
The thesis analyses the Stability and Growth Pact with regards to relations between the Eurozone countries. First, it theoretically describes European integration process and consequently finds if the European Monetary Union in the optimal currency area. Furthermore, explains term of a Stability and Growth Pact and it discrepancies between political and economic issues. In conclusion, it is contemplated that the Stability and Growth Pact, even after the reforms, have a negative impact on relations between the members of the Eurozone.
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The Stability and Growth Pact EU
Vlček, Jakub ; Adámková, Vlasta (advisor) ; Machytka, Daniel (referee)
The thesis describes Stability and Growth Pact and his development in time. At the beginning is followed development of Economy and Monetary Union, to clarify the historical background of the gradual process accessing Stability and Grow Pact. Development is described from Article 104c of the Treaty establishing the European Community over the German's proposal for the Stability Pact to a final agreement on Stability and Growth Pact, which was a compromise between the German's and French's proposal. The emphasis is placed on noncompliance with the rules of the Pact of Stability and Growth by Germany and France that led to its reform.
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The implementation of budgetary policies in terms of European integration process
Grofčík, Lukáš ; Bič, Josef (advisor) ; Tunkrová, Věra (referee)
The goal of this thesis is to identify the causes and consequences of adverse budgetary situation in the countries of the European Union and to clarify the possible solutions. The work is divided into four main parts. The first chapter discusses budgetary policies, specifies it and defines the concept of fiscal imbalance and its consequences in terms of a common monetary policy. The second chapter discusses the issue of structural reforms and economic policy coordination as a possible solution to the adverse condition. To understand the internal relations of the euro area, their responsibilities and rights, it is needed to be familiar with the document called The Stability and Growth Pact disassembled in the third chapter. The final chapter attempts to describe the evolution of public finances in particular selected euro area countries or EU with the consequences and reactions that caused their financial position.
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Italy and the Stability and Growth Pact
Mrozková, Tea ; Šaroch, Stanislav (advisor) ; Karpová, Eva (referee)
The subject of this thesis is Italy and the Stability and Growth Pact. The first chapter characterizes principle and functions of the Stability and Growth Pact and its observance. The second chapter presents stabilization programs presented by Italian government, from the reform of the Pact until the present, with emphasis on medium term objectives, economic process and macroeconomic indicators. Third chapter focuses on the analysis of eventual development of macroeconomic indicators related to public finance by using fiscal arithmetic.
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