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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Denis Mefodev
Prospects of the European Union Regarding Adaptation to Modern Economic Challenges, E.g. Budget Crisis
World Economy
(Bachelor’s programme)
8
2016
This research examines possibilities of the European Union to adapt and overcome modern economic challenges, in particular, the budget crisis which has arisen in Eurozone in 2010. Analysis and review of the budget policy documents, report of international financial organizations regarding the above mentioned problem, publications of different scientists on this matter shows that the EU has enough margin of safety to overcome the budget crisis and preserve the unity of the Eurozone. In present, situation is deteriorated by the fact that the EU budget is threatened by other external factors that are not directly connected. Among them it could be mentioned increased migration flows from Africa and Middle East, bilateral economic and political sanctions with Russia, etc. However, notwithstanding the above, the overall economic situation in the European Union is still stable in comparison to other countries of the world, e.g. Eastern Europe countries (Ukraine), Russia, Middle East and Asian countries. In this case, the author supposes that the EU would stay the most developed international integration and sustain its positions and remain influential of the World Stage.

Key words: budget crisis, debt crisis in the EU, monetary policy, modern economic challenges, Eurozone crisis, budget policy.

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