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The global financial crisis has influenced economic performance of the world economy and economic theory as well. The crisis has underlined the fiscal position as a fundamentally fragile element of the Euro Area members' economies and it has also proposed the question whether the growth has not been systematically fed and accelerated by increasing public indebtedness. The paper focuses on the quantification of relation between economic performance and public debt. There is an analysis of 27 EU countries and other 13 OECD economies data (1971-2010) divided into two groups - developed economies and less developed emerging markets and categorized into four blocks. Main findings of the paper are following: increasing public indebtedness as a percentage of GDP has led to lower economic performance in analysing group of 40 countries. The difference between the highest and lowest category of public debt level is almost 2 percent. It is supposed that unsufficient GDP growth might even deepen the ongoing debt crisis. [ABSTRACT FROM AUTHOR]

Since 2007 Eurozone countries have been in economic crisis. Some countries have had negative growth and massive unemployment, especially youth unemployment, all countries have experienced low growth rates, and some have had financial crises with unsustainable private and public debts and sky-high borrowing rates. All of this has caused huge political and social upheavals. The paper describes theory of real business cycle also describes arise and the course of global financial and economic crisis. The Global Financial Crisis was a clear demonstration of the role of bank lending in the propagation of financial crises and business cycles. The paper describes the topic of the role of the banking system in generating financial crises and business cycles in the context of the currently financial crisis of 2007. [ABSTRACT FROM AUTHOR]

The aim of this paper is to analyse the influence of the European Union accession and financial crisis to convergence and integration of the bond yields and bond markets. The results show the deepening of bond market convergence after the European Union accession and the integration has continued until the end of the observed period. The chosen indicators are monthly mid-term bond yields (10-year bond yields). The period of 1/2000 to 12/2016 was chosen in order to show the impacts of the changes. The time period was divided into periods 1/2000 - 4/2004 (before the European Union accession), 5/2004 - 7/2007 (after the accession and before financial crisis), 8/2007 - 3/2009 (period of the deepest financial crisis), 4/2009 - 12/2016 (period after the financial crisis). Used methods are 1) spread between the 10-year bond yields of countries of Visegrad group (Czech Republic, Slovakia, Poland and Hungary) and German 10-year bond yield, 2) analysis of alignment, 3) β-convergence. These findings can be beneficial for the financial market observers. [ABSTRACT FROM AUTHOR]

The last three enlargements of the EU have brought under scrutiny the current Eastern periphery of the EU: eleven countries with similar contemporary political backgrounds, slightly different rhythms of economic development, but with comparable announced ambitions concerning Europe 2020 targets. These countries have always been considered less dynamic (economically, socially, politically) than the Northern and Western parts of EU. Despite the economic crisis registered within the Community territory at the end of the last decade, the Eastern EU periphery has had, overall, a positive rhythm of growth. With this sustainable current trend, the gaps between EU member states are slowly, but gradually reducing. The main purpose of this paper is to see if there is a connection between the economic growth in Eastern Europe and EU targets regarding investments in the regional development of these countries. A series of indicators have been analysed at different levels (GDP per capita, Employment rate, Atrisk-of-poverty rate, Business demography, etc) in order to highlight the economic sectors where growth has been registered. A qualitative analysis has also been carried out to see what political documents elaborated by the EU regarding investments in regional development for 2014-2020 programming period are targeting specifically the Eastern Europe countries and what sectors represent the main focus of EU policies. By mapping the results, patterns were identified concerning the sectors targeted by EU policies where growth has been registered. Minor, but visible differences were recorded between the dynamics of Eastern Europe countries' economic sectors. [ABSTRACT FROM AUTHOR]

During the last decade the EU economy was hit by two economic crises. The first was the deep global financial and economic crisis in 2008. After a brief economic recovery occurred in 2012 in the European Union another, more moderate economic recession. Reason for its existence was excessive indebtedness of some euro area countries, mainly Greece, Portugal, Ireland and Spain. The debt crisis and uncertainty about the future of the European economic and monetary union was the cause of creation of the second, though less severe economic recession. Slovak economy in the pre-crisis period was characterized by high economic growth. In 2007 gross domestic product grew year on year to 10.7%. The unemployment rate decreased to 9.6%. This article aims to assess the impact of the global financial and economic crisis as well as the second economic recession in 2012 on the EU economy and on the economy of Slovakia. Economic performance evaluation was based on the development of basic macroeconomic indicators, notably real GDP, unemployment rate and public debt. We focused on the comparison of the development of the demand side of the economies, so domestic and external demand in the last decade. For this purpose we used statistical data from Eurostat. Based on the analysis it can be concluded that due to the global financial and economic crisis the EU economy in 2009 declined year on year by -4.4% and the Slovak economy by -5,3%. This at a time stopped positive development of the Slovak economy. After a brief recovery in both economies, a second recession took place in 2012 in the EU. Reason for its creation was the debt crisis and uncertainty and fears of further economic development. EU gross domestic product fell year on year by -0.4% and in the euro area by -0.7%. From 2015 we can expect a positive development and growth of both economies. [ABSTRACT FROM AUTHOR]