The Crisis of Financial Markets – an Impulse for the Improvement of Economic Governance within European Union
Author:
University Lecturer Eugen NICOLĂESCU, Ph.D.
JEL:
G 30, M 42, M 48
DOI:
Keywords:
economic crisis, economic governance, legislative reform, regulation of the financial services, financial auditors
Abstract:
Within the context of the preoccupations regarding the stimulation of economic recovery, “the European economical governance” is granted with special consideration, at the level of the European Union. In this regard, an action plan was developed and an ambitious legislative project was launched, this project being meant to settle a more accurate and wider framework in order to reestablish the economic governance, taking into account the development of the economic crises, the apprehended vulnerabilities and the existence of the institutional organizing and functional deficiencies. \r\nThe article presents and comments on the adopted measures, the recommendation documents and the legislative procedures. The second part of the article comprises assessments of the results, of the tendencies and future action directions. In the last part of the article, the author brings to attention the necessity of a more active implication of the financial auditors in the improvement process of the financial markets responsibilities, within the context of the improvement of the economical governance at European level. \r\n\r\n