EU macroeconomic convergence criteria: monitoring and interaction

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dc.contributor.authorЗадоя, Анатолій Олександрович
dc.date.accessioned2025-12-30T15:12:29Z
dc.date.available2025-12-30T15:12:29Z
dc.date.issued2025
dc.description.abstractThe article analyses the system of macroeconomic convergence criteria of the European Union and the mechanisms of their monitoring and control within the euro area. It is demonstrated that the Maastricht criteria perform not only a gatekeeping function for candidate countries seeking to join the euro area, but also serve as a framework for the permanent surveillance of macroeconomic policies in euro area member states. Based on Eurostat data for the period 2015–2024, an empirical assessment of compliance with key financial indicators is carried out, including public debt, government budget deficit, and the current account balance. The results reveal a persistent and widespread excess of the public debt threshold by most euro area countries, accompanied by the absence of effective sanctioning under the excessive deficit procedure. Correlation analysis confirms a strong relationship between public debt and the government budget balance, as well as the significant role of the current account balance in shaping sovereign debt dynamics. The study concludes that the existing monitoring and enforcement framework has limited effectiveness and substantiates the need to revise both the quantitative parameters of certain convergence criteria and the institutional mechanisms for ensuring fiscal discipline within the EU.
dc.identifier.citationZadoia A. EU macroeconomic convergence criteria: monitoring and interaction. Danish Scientific Journal. 2025, No103, 6-13. https://doi.org/10.5281/zenodo.18070906
dc.identifier.issn3375-2389
dc.identifier.urihttps://ir.duan.edu.ua/handle/123456789/6457
dc.language.isoen_US
dc.publisherDanish Scientific Journal
dc.subjectmacroeconomic convergence criteria
dc.subjecteuro area
dc.subjectpublic debt
dc.subjectgovernment budget deficit
dc.subjectcurrent account balance
dc.subjectStability and Growth Pact
dc.subjectexcessive deficit procedure
dc.subjectmacroeconomic monitoring
dc.subjectEU fiscal discipline
dc.subjecteconomic convergence
dc.titleEU macroeconomic convergence criteria: monitoring and interaction
dc.typeArticle

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