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With this article, we propose to analyse the way in which the implementation of the measures to reduce the budget deficit was decided in Romania. Thus, we are particularly concerned with the provisions of Law no. 296/2023 on some fiscal-budgetary measures to ensure Romania's long-term financial sustainability, a normative act that at first glance positions itself correctly towards its recipients, but on closer reading, has the potential to generate negative effects, at least with regard to economic operators with state capital that can be considered profitable. We will analyse, for example, the bans imposed, in relation to their generality, without taking into account the long-term effects, and here we have in mind the fluctuation and ageing of staff, but also the lack of any means of encouraging production. However, as long as employees are aware that the company has made a profit, if it is not reflected at the salary level (bonuses, meal vouchers), even though this has happened in previous years, they will become dissatisfied, with the direct consequence being a drop in productivity and, implicitly, in the current year's profit. That is why, having analysed the above-mentioned normative act, we have come to the conclusion that it needs to be amended, at least with regard to some measures, especially those related to the granting of bonuses at salary level. We admit that measures to reduce the budget deficit are necessary, but this cannot be achieved by imposing bans that apply to different categories of recipients, without taking into account possible, well-justified exceptions. If the legislation does not change, surely memoranda will be formulated regarding the exemption of the economic operators concerned from the total/partial application, as the case may be, of the provisions of Law no. 296/2023.

Advantages of the EU single market and the costs related to adaptation the Community context and requirements, the impact of the international economic and financial crisis and the difficultiesin accessing EU Structural and Social Cohesion Funds are among the major factors that have influenced the economic evolution of Romania in the period 2007-2016, including the external trade in goods. There have been changes in the structure of Romania's external trade, determined, on the one hand, by the accession to the EU, and on the other hand, by the impact of the international economic crisis started in 2008. The way in which the Romanian external trade has responded to the aforementioned factors is analyzed in this paper, on the basis of the following criteria: the evolution of specific indicators to the field of foreign exchanges of goods, in the year 2016 as compared to the year 2007; the magnitude of the economic downturn in 2009 and 2010 years as a result of the negative impact of the crisis; the decline recovery in years; resilient economic sectors. International comparisons are used in order to evaluate the position of Romania as against the neighboring EU Member States as well as its main EU trading partners in the context of the EU integration process.

In the long run, public budgets in a great majority of developed economies suffer from recurring deficits and an increasing public debt. However, the condition of public finace deteriorated even in times of economic conjuncture, so the onset of the crisis in 2008 caught most of the developed world without financial reserves, or the so-called fiscal cushion. Thus most EU countries now fail to fulfill both the Maastricht Convergence Criteria and the Fiscal Compact Treaty, even if these are binding legal norms of the EU. Despite this, some EU countries voluntarily accepted a sort of financial debt cap, which the government of the Czech Republic accepted in February 2015 in the form of the so-called financial constitution, which contains a whole range of mechanisms at all levels of public budgets and public expenditures with a public debt in the amount of 55% of the GDP. The goal of this contribution is to analyze the content of the financial constitution, assess its structure and the aspects of its process application, and through selected public budgets also its possible influence on the whole economy. The content of the financial constitution shall also be compared to similar mechanisms abroad, especially in the neighboring countries.

Specialists believe that Europe is mired in a deep debt trap as a result of the costly measures taken to deal with the financial and economic crisis and they describe the situation as being serious, but not without hope. The majority of the specialists believe that without the euro, Europe would be in a much worse position. In the fallowing paper, our intention is: first to stress the key factors that have led Europe to the current crisis, second to present some possible scenarios that the crisis may generate in the near future and third to give some viable solutions that might improve Europe’s nowadays economical situation and help it get out of the crisis.