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1
Dec, Pawel, and Piotr Masiukiewicz. "Models of Bankruptcy Procedures in European Union." Business and Management Horizons 3, no. 2 (December 1, 2016): 46. http://dx.doi.org/10.5296/bmh.v4i2.10275.
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This paper focuses on the analysis of comparative models bankruptcy in selected EU countries and the evaluation of the effectiveness of the insolvency proceedings. These models are quite similar in the countries concerned; also they give the opportunity to the many variants of the bankruptcy procedure. The main thesis of the article is—so far developed and applied models of bankruptcy are still insufficient and need to be improved and reorientation to a greater extent, particularly concerning the taking into account of weak signals from the business environment. The authors analyzed the relevant theories of the firm and its reference to bankruptcy, presented various models of insolvency procedures in selected EU member states, analyzed the so-called European Company for bankruptcy. Complementing the paper detailed research on the effectiveness of insolvency proceedings in many countries. Included in the text of the conclusions show the shortage of both in theory and in practice, a comprehensive solution to the problem of insolvency proceedings.
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Bărbuță-Mișu, Nicoleta, and Mara Madaleno. "Assessment of Bankruptcy Risk of Large Companies: European Countries Evolution Analysis." Journal of Risk and Financial Management 13, no. 3 (March 18, 2020): 58. http://dx.doi.org/10.3390/jrfm13030058.
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Assessment and estimation of bankruptcy risk is important for managers in decision making for improving a firm’s financial performance, but also important for investors that consider it prior to making investment decision in equity or bonds, creditors and company itself. The aim of this paper is to improve the knowledge of bankruptcy prediction of companies and to analyse the predictive capacity of factor analysis using as basis the discriminant analysis and the following five models for assessing bankruptcy risk: Altman, Conan and Holder, Tafler, Springate and Zmijewski. Stata software was used for studying the effect of performance over risk and bankruptcy scores were obtained by year of analysis and country. Data used for non-financial large companies from European Union were provided by Amadeus database for the period 2006–2015. In order to analyse the effects of risk score over firm performance, we have applied a dynamic panel-data estimation model, with Generalized Method of Moments (GMM) estimators to regress firm performance indicator over risk by year and we have used Tobit models to infer about the influence of company performance measures over general bankruptcy risk scores. The results show that the Principal Component Analysis (PCA) used to build a bankruptcy risk scored based on discriminant analysis indices is effective for determining the influence of corporate performance over risk.
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Mokhova, Natalia, and Marek Zinecker. "Corporate Negative Equity: The Evidence from the European Union." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 64, no. 3 (2016): 1021–36. http://dx.doi.org/10.11118/actaun201664031021.
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After the Global Financial Crisis the frequency of reported losses of companies has increased significantly in countries of the European Union. Moreover, the financial leverage of companies have increased and even exceeded 100% in several countries. The reason of this development is negative equity that companies find themselves to report. At first sight negative equities are caused by accumulated losses from prior periods. However, there are some other reasons that can result in increasing negative equities in companies. They remain adequate as long as a company is able to pay its bills. Nevertheless, a company with negative equity is exposed to risks. This paper investigates whether the corporate negative equity is a sign of the future failure of a company. We examine non-financial manufactured companies from selected countries of the European Union within the period 2005–2012 from database Amadeus (Czech Republic, Slovakia, Hungary, Poland and Germany). By the means of comparison between negative and positive equities we applied descriptive statistics and Pearson correlation analysis. We find that in all surveyed countries the size positively influences the equity of companies. Other factors as profitability and growth opportunities do not influence the corporate equity. In addition the binary logistic regression analysis has been conducted based on the evidence from Czech companies. Our results indicate that negative equities are not a sign of bankruptcy or insolvency of a company. But the low profitability or low business activities (that are predictors of bankruptcy) might lead to negative equities in the balance sheet.
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Monedero, Pablo José Abascal. "Family Laws in the European Union." Socialinė teorija, empirija, politika ir praktika 19 (September 16, 2019): 87–94. http://dx.doi.org/10.15388/stepp.2019.13.
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EU social policies should be complemented by contributing to a harmonious development of society, by reducing structural and regional imbalances, developing a balance between the a localized community and the national society, and improving the living standards of citizens and families of member states (Garrido 2002). Such important social policy principles as freedom and justice are addressed and represented in family laws in the EU regulations introduced during the period of 2000–2016. In this article, we studied the EU’s legal solutions in reference to national (Spain) laws on these matters: children and parental responsibility (adoption, child abduction, family benefits) and couples (matrimonial, regimes, prenuptial agreements, provisional measures). This legislation is necessary in the face of the proliferation of families whose members have different nationalities, and even in the mobilization of residences. Cooperation has intensified between national judicial authorities to ensure that legal decisions taken in one EU country are recognized and implemented in any other. This is highly important in civil cases, such as divorce, child custody, maintenance claims, or even bankruptcy and unpaid bills, when the individuals involved live in different countries. The development of family laws is one of the most important factors of family welfare in European countries.
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Saija, Ronald, and Kadek Agus Sudiarawan. "Perlindungan Hukum Bagi Perusahaan Debitur Pailit dalam Menghadapi Pandemi Covid 19." Batulis Civil Law Review 2, no. 1 (May 31, 2021): 66. http://dx.doi.org/10.47268/ballrev.v2i1.474.
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The emergence of the Covid-19 pandemic on global economic development has an impact not only on the world economy and investment, but also correlates with aspects of legal development, especially business economy law. One of the areas of business economy law that has also undergone changes in an effort to accommodate the development of modern business transaction practices is bankruptcy law. The purpose of this research is to examine the preventive efforts made by Debtors at Bankrupt Companies to reduce bankruptcy caused by Covid-19 and solutions to protect debtors in companies experiencing bankruptcy. The research method used is juridical normative, primary and secondary legal materials with a statutory approach and a conceptual approach. The results showed that the regulations regarding bankruptcy law in various countries, including Indonesia, tended to change. For example in Europe, in the last few decades European countries have argued that the existing insolvency legal framework has not been able to provide a better economic legal scheme compared to liquidation schemes, so that changes in the substance of bankruptcy have occurred in almost all aspects of the country including the Union. Europe, the American continent, the Asian continent, the African continent, and the Australian continent.
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Działo, Joanna. "State Aid in The European Union in the Period of the Economic Crisis." Comparative Economic Research. Central and Eastern Europe 17, no. 1 (April 25, 2014): 5–19. http://dx.doi.org/10.2478/cer-2014-0001.
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The global economic crisis has brought about the need for States’ involvement to rescue many business entities from bankruptcy, initially in the financial sector, and at a later stage of the crisis in the real economy. In the countries of the European Union, these measures take the form of state aid, which is specifically regulated as it bestows benefits on its beneficiaries and therefore violates the rules of market competition. Thus, the provision of state aid is controversial, since it potentially adversely affects the competition policy pursued in the EU. This paper aims to analyse and evaluate the volume of state aid granted in the EU countries during the economic crisis and its potential impact on the health of the economy and the public finance sector.
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Кириловская, Н. Н., Ю. В. Мишальченко, and Е. Л. Львова. "International Legal Aspects of Regulating Insolvency (Bankruptcy) in the Russian Federation and the European Union Member States." Ius Publicum et Privatum, no. 1(16) (March 31, 2022): 126–37. http://dx.doi.org/10.46741/2713-2811.2022.16.1.013.
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В статье проведен анализ законодательства о несостоятельности (банкротстве) в России и государствах – членах Европейского союза. Внимание уделено различиям как между странами Евросоюза, так и между ними и Российской Федерацией. Сравнительно-правовой анализ позволил выделить особенности института несостоятельности в странах ЕС и Российской Федерации, в частности наличие самостоятельной правовой основы данного института, определение механизма банкротства. В то же время реализация механизма банкротства породила ряд проблем, к числу которых следует отнести определение приоритетности кредиторов, базовой страны должника, последствий несостоятельности, действие принципа удобного законодательства о несостоятельности и др. The article analyzes legislation on insolvency (bankruptcy) in Russia and the European Union member states. Attention is paid both to differences among EU countries and among them and the Russian Federation. A comparative legal analysis helps identify features of the institution of insolvency in the EU and the Russian Federation, in particular, existence of an independent legal basis for this institution, definition of the bankruptcy mechanism. At the same time, the bankruptcy mechanism implementation has generated a number of problems, such as determining priority of creditors, a base country of the debtor, consequences of insolvency, operation of the convenient insolvency law principle, etc.
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Jabłońska, Małgorzata, Joanna Stawska, Radosław Dziuba, Mahmut Tekce, and Marta Krasoń. "Public Aid and Entrepreneurship During the Covid-19 Pandemic in the European Union Countries." Finanse i Prawo Finansowe 3, no. 31 (September 30, 2021): 57–77. http://dx.doi.org/10.18778/2391-6478.3.31.04.
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The aim of the article: The outbreak of the Covid-19 pandemic made it necessary to involve the state in the process of rescuing numerous business entities from bankruptcy. In the European Union, the aid measure for entrepreneurs takes a form of public aid, which, as it turns out, is the necessary and the only tool to protect SME sector enterprises against bankruptcy. Social isolation caused by the virus that spread on a large scale effectively inhibited the development of entrepreneurship, which is inherently related to the economic development of countries. The aim of the article is therefore to indicate that supporting entrepreneurs within the framework of public aid may help to reverse the unfavorable economic trends related to the disturbed development of entrepreneurship.
Methodology: The article analyzes and assesses the government solutions introduced to the Polish economic reality, the purpose of which is to counteract the effects of Covid-19. The paper presents the current public aid tools available to entrepreneurs along with their financial dimension.
Results of the research: State aid granted by the state to entrepreneurs during the crisis caused by Covid-19 is indispensable for their further functioning. The paper presents aid instruments related to COVID-19 that are available to entrepreneurs. The analysis shows that public aid addressed to entrepreneurs injured as a result of the lockdown comes from many sources and is almost tailored to the individual entrepreneur. The entities providing aid on the basis of state aid include: banks, local government units, executive bodies of local government units, Social Insurance Fund, State Fund for Rehabilitation of Disabled People, financial intermediaries, bodies constituting local government units, the European Investment Bank, Polish Development Fund, district and voivodeship labor offices and BGK (Bank Gospodarstwa Krajowego). Having prepared a package of systemic solutions, the government introduced them systematically, depending on the situation of individual sectors of the economy. Special solutions in the form of financial shields were addressed directly to the tourism sector (e.g. loans for tour operators) or the catering sector, which in the face of the pandemic were most exposed to a decrease in revenues. The impact of introduced solutions on the country’s economy can be assessed only in the next few years, but the multitude and diversified nature of the anti-crisis solutions introduced in Poland will certainly contribute to slowing down the negative consequences of Covid-19 in the economy.
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Silva, Célia Taborda. "Protests in Europe in Times of Crisis -The Case of Greece, Ireland and Portugal." European Journal of Social Sciences 5, no. 2 (October 1, 2022): 97–109. http://dx.doi.org/10.2478/eujss-2022-0019.
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Abstract The year 2008 was marked by a financial crisis that started in the United States but quickly spread to the rest of the world. Subprime-related, this crisis was linked to property speculation, leveraged by the banking sector. This crisis quickly spread to Europe due to exposure of European economies to international markets. To avoid economic collapse the States decided to intervene in the banking sector, nationalizing some banks and injecting capital in others. Some European countries not to enter bankruptcy had to ask for external financial support between 2010-11, was the case of Greece, Ireland and Portugal. The aid granted by the Troika (European Union, European Central Bank, International Monetary Fund) to European countries referenced advocated a drastic austerity plan. Faced with such a scenario of crisis, austerity, unemployment and precariousness, Europeans came to the streets to demonstrate their discontent with the crisis but also with politicians and policies implemented to solve the economic problems. Throughout Europe there were large protests, especially in the countries that received international aid. From a corpus taken from newspapers and from a theoretical framework of social movements we intend to verify if there was a direct relationship between crisis and contestation in the three countries that had external aid and if this crisis returned the centrality to materials on European social movements.
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Walkowski, Maciej. "Europa w kryzysie: perspektywy go¬spodarcze Unii Europejskiej do 2020 roku w kontekście problemów rozwojowych państw grupy PIIGS." Przegląd Politologiczny, no. 1 (November 2, 2018): 59–82. http://dx.doi.org/10.14746/pp.2012.17.1.5.
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In 2009 the European Union, and in particular the euro zone, slid into a stage of economic recession, on account of the spreading global financial crisis, referred to as ‘2008+.’ Considerable developmental problems are being experienced by the group of countries referred to as PIIGS, particularly by Greece. Due to the tight developmental interdependencies in the European common market, the bankruptcy of Greece could cause a domino effect, i.e. the collapse of other Mediterranean economies, such as Spain or Italy, financial difficulties for Germany and France, and consequently a threat to integration processes throughout Europe. This paper is the first part of the analysis of this issue, where the author analyzes both the causes and effects of the present financial crisis in the euro zone, the first correctional activities undertaken by the EU institutions, and further developmental prospects of the European Union by 2020
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Garbelli, Maria. "Economic Turbulence in the Iron Kitchenware Industry in Italy." European Scientific Journal, ESJ 14, no. 31 (November 30, 2018): 58. http://dx.doi.org/10.19044/esj.2018.v14n31p58.
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Companies in turbulent economies are required to face several difficulties, mainly related to the specific features of an extremely volatile environment. Although a similar, hypercompetitive context can be considered a global condition today, it is not perceived in the same way worldwide. Thus, international development could be the best method for exporting to different locations and getting the best opportunities to survive in this unstable environment. Italy is one of the European Union countries affected the most by turbulence and the financial crisis with a loss of competitiveness compared to other countries in the Union. The economic system has changed considerably, rising the bankruptcy cases and lowering reported earnings. This paper claims to give an overview of the Italian situation inside the European Community as Italy is recognized as one of the most industrialized areas of northern Italy; the province of Brescia is home of one of the two Italian districts devoted to the iron kitchenware industry—an industry in which Italy held a leading position worldwide for a long time. Ten years after the financial crisis, and supported by exports flows analysis, we evaluate the Italian competitive position in this industry compared to that of the country’s European competitors. Export data (inside and outside the European Union) in three years (2007, 2010, and 2014) show Italy’s leading global role in this industry but also the negative effect of the crisis on the country, witnessed by the strong rise of other competitors.
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Jonek-Kowalska, Izabela. "State aid and competitiveness of the hard coal mining industry in the European Union." Equilibrium 10, no. 1 (March 31, 2015): 69. http://dx.doi.org/10.12775/equil.2015.004.
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The hard coal mining industry in the European Union (EU) is in decline, mostly due to a lack of price competitiveness. It is maintained, to a great extent, by state aid; the key objective of the industry’s existence is to provide energy security and guarantee employment in the mining regions. In Poland, the hard coal mining industry is currently undergoing a serious crisis that threatens the two largest mining enterprises with bankruptcy. In addition, due to the European Union’s restrictions concerning the circumstances of granting state aid, these enterprises cannot count on the financial support for the repair restructuring that they used on a large scale until 2011. Therefore, in this article, the main objective is to determine the influence of state aid on the competitiveness of the hard coal mining industry in 12 countries of the EU, including Poland in specific. In order to achieve the stated objective, the article is divided into three parts. The first part consists of a literature review, and legal regulations that are related to state aid for the hard coal mining industry in the EU are presented. The second part identifies the amount of state aid for the mining industry in the examined countries. Next, the economic effects of state aid for hard coal mining in the European Union are examined. The third assesses the financial results of 24 Polish hard coal mines.
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Moretti, Stefano, and Raja Trabelsi. "A Double-Weighted Bankruptcy Method to Allocate CO2 Emissions Permits." Games 12, no. 4 (October 23, 2021): 78. http://dx.doi.org/10.3390/g12040078.
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Global warming, as a result of greenhouse gases, is exceeding the planet’s temperature stabilization capacities. Thus, greenhouse gas emissions must be reduced. We analyse a bankruptcy situation aimed at allocating emissions permits of CO2, the predominant greenhouse gas emitted by human activities. Inspired by the Constrained Equal Awards (CEA) solution for bankruptcy situations, we introduce a new allocation protocol based on the extension of the CEA solution over double-weighted bankruptcy situations, including two exogenous parameters aimed at providing a balance, in the request of emissions permits, between economic activities and the production of renewable energy. In these bi-criteria allocation problems, we focus on a computational approach to find an allocation protocol that does not prioritize any particular parameter. As an application of our method, we first consider CO2 permit allocation problems in European Union (EU) countries, using real data about the gross domestic product (GDP), the production rate of renewable energies, and countries’ ‘demands’ of CO2 emissions from 2010 to 2014. Then, we compare our approach with the CEA solution and its single-weighted extension to show the impact of using two weights over the distribution of CO2 emissions permits; we analyse the correlation between allocations of CO2 emission permits and the distribution of power within the EU Council to study the acceptability of alternative allocations.
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Lentner, Csaba, and Szilard Hegedus. "Local Self-Governments in Hungary: Recent Changes through Central European Lenses." Central European Public Administration Review 17, no. 2 (November 7, 2019): 51–72. http://dx.doi.org/10.17573/cepar.2019.2.03.
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This article provides an overview of the regulatory environment of the Hungarian system of local self-government based on the methods of legal dynamics and economic analyses in a historical perspective tracing events back to the aftermath of World War II. The starting point of the analysis is 1947, the launching of soviet type command economy in Hungary. Next is a detailed study of the regulation and evolution of local self-government since its beginnings in the early 1990s following the change of regime, with a brief international outlook on the post-soviet countries surrounding Hungary. In our economic analysis, emphasis is placed on the period following Hungary’s accession to the European Union, a period that held out considerable opportunities for Hungarian local self-governments, but ultimately evolved into bankruptcy. The article presents detailed reasons for the atypical nature of Hungarian local self-government indebtedness and the factors underlying this unfavourable process. Further on, the procedure of debt consolidation and the essential elements of the new regulatory environment created after 2011 are described. In a brief international comparison, debt portfolio developments are analysed through the examples of Slovenia, Poland, Slovakia and the Czech Republic as analogue Central European countries, in order to provide further proof of the atypical financial management of Hungarian local self-governments, i.e. non-compliance with the rules and the not always solid budgetary discipline. The focus of the research underlying this paper is the impact the Hungarian regulation of self-governments had on the financial sustainability of local self-governments’ financial management. The study confirmed the initial hypothesis that the business management rules set out with insufficient prudence, deficiencies in the control system, and excessive borrowing in foreign exchange led to bankruptcy of a number of local self-governments and consequently jeopardised the proper provision of public services.
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Anggriawan, Rizaldy. "Insolvency Proceedings: ASEAN and EU Comparison on the Rules of Foreign Court Jurisdiction." Indonesian Comparative Law Review 3, no. 1 (December 31, 2020): 35–44. http://dx.doi.org/10.18196/iclr.v3i1.11621.
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Due to a lack of uniformity or harmonization of laws and regulations, cross-border insolvency has remained an issue in the ASEAN region. ASEAN economic openness with the implementation of the ASEAN Free Trade Area (AFTA) and ASEAN Economic Community (AEC) may create issues at some points as investors compete to dominate the ASEAN while assets are located not only on their own territory but also in other ASEAN member countries. On some occasions, they can fail to meet their debt payment obligations when performing international business transactions. As a result of the bankruptcy case, a legal arrangement may exist between the country in which the business actor is declared bankrupt and the country in which the bankrupt debtor's assets are located. This interaction between two or more countries involves a clash of jurisdictions. In order to counter such an issue, ASEAN may learn from what the EU has done over these decades. The study aims to compare the regulatory issue of foreign court jurisdiction in settling the insolvency cases both in ASEAN and EU. The paper is normative-qualitative legal research. It used a comparative, statute, and conceptual approach. It is found that in terms of cross-border insolvency, the European Union is far ahead of ASEAN, given that at least two major regulations in place, namely EC Regulation 1346/2000 and EU Regulation 2015/848, while ASEAN has almost nothing to offer at this time. The experience of the EU to formulate and implement a settled regulation on foreign court jurisdiction in settling the insolvency cases among EU member countries is one of the valuable lessons that ASEAN may take from the EU.
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Foris, Tiberiu, and Diana Foris. "EUROPEAN FUNDS MANAGEMENT ANALYSIS—A CASE STUDY OF EUROPEAN SOCIAL FUNDS IN ROMANIA FROM 2007 TO 2013." CBU International Conference Proceedings 2 (July 1, 2014): 142–46. http://dx.doi.org/10.12955/cbup.v2.457.
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This article focuses on fund financing management of one of the utmost important European Union funds, the European Social Fund (ESF), and its implementation in Romania in its post adherence period (2007-2013). In this respect, the main aspects regarding the management and implementation of this program in Romania, as compared to other European countries, are analyzed taking into consideration the declared objectives at its launching moment. Through a defective management, these objectives have not reached their target, whereas the educational market of continuous adult education has been strongly distorted from the competitive point of view. Moreover, due to inadequate financial management, many of the involved agencies—private companies, schools, constitutive parts of the civil society, have gone bankrupted—the fact that would lead to a serious social imbalance.The research part of this article, being implied in the management of the most important strategic projects of this program (projects in qualifications for the spa tourism, agro-tourism, and food industry), presents a critical point of view on ESF management at a national level and highlights a set of proposals and recommendations, so that, between 2014 and 2020, Romania should be aligned with the European standards regarding the performance in implementing programs with non-reimbursable financing.
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Bieniek, Damian. "GERMAN ACTIONS ON GREEK CRISIS." sj-economics scientific journal 9 (December 30, 2011): 101–9. http://dx.doi.org/10.58246/sjeconomics.v9i.466.
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Beginning of Greece problems was related to the accession to the Euro Zone. It occurred despite Greece did not meet the criteria thanks to the support of Germany and the Bundesbank, which assessed the economies of countries aspiring to a common currency. Lack of credibility for one country could burry the entire project. After entering the euro zone, Greece has significantly increased the reliability and successive governments could continue to fund increasing debt by issuance of bonds, bought mostly by French and German banks. Greek debt problem was exposed by the crisis of 2008. After collapse of the Greek finance European Union was forced to create assistance programs for the country, exceeding 100 billion. The largest cost were beard of course, by the economy of Germany. In the possession of European banks are Greek government bonds worth 52,3 billion dollars. With about 43 percent of this amount corresponds to German institutions, and further 27 percent to French lenders. Thus, Greece's problems transforms into problems of the banking sector in Germany and France, and problems across the EU economy Financial institutions and EU member states have imposed draconian Greek rescue package, which is believed to be a rescue package for the EURO. Germany stresses that loans to Greece, should be based on "market price" because otherwise it would be a form of subsidy, which violates the principle of the euro area. Angela Merkel has been pushing up the leading role of the IMF's "rescue" of Greece, which met with numerous objections. Merkel has been opposing by long time the idea of financing the debt of Greece by other countries, particularly by Germany. Merkel behaved so in fear of her party's election results, because the German taxpayers with an increasing reluctance opposed aid for the Greeks. German minister of economy said, however, that the ejection of Greece from the euro zone is impossible. In consideration to many economists Greeks will not be able to repay their obligations, most Greek bonds which were held by German banks should be written off. Germany has adopted a tough stance towards Greece and its problems with a huge budget deficit, impending bankruptcy of the country. Germany was the biggest beneficiary of the unified currency. Now it's bearing the greatest cost of saving a drowning partner. Billions of euros, which are pumped, are not guided by a means of noble conception of European solidarity, but a pragmatic concern about its banking system.
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Levmore, Saul. "Harmonization, preferences, and the calculus of consent in commercial and other law." Common Market Law Review 50, Issue 1 (March 1, 2013): 243–59. http://dx.doi.org/10.54648/cola2013046.
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Local, disparate preferences are normally satisfied by variety in law, but in some circumstances, harmonization can bethe means by which a majority advances its members' local preferences. One unappreciated method involves the imposition of external costs by a majority on a minority. In its most common and extreme form, a majority imposes a tax on the population in order to finance a benefit that is limited to the majority. The asymmetry between burdens and benefits may be sufficiently great to generate inefficient expenditures. It is more difficult but not impossible to impose external costs through regulation. Commercial law is not free from this danger, because it reflects preferences about consumer protection, which is to say such things as wealth distribution and paternalism, and it pits interest groups against one another, as in the case of employees and tort claimants in the event of bankruptcy. Commercial law is therefore an area where groups might sometimes gain from diversity in legal rules, but might at other times find that harmonization allows a majority to benefit yet more. It is therefore difficult to know whether harmonization, which has many other causes, is beneficial or corrosive. When the majority of voters are relatively homogeneous, as is arguably the case among member countries in the European Union, the possibility of harmonization - or simply centralized decisionmaking - as a means of imposing external costs seems especially likely. There are means of reducing the danger, but harmonization itself should be expected to increase the influence of the central bureaucracy.
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Khalatur, Svitlana, Lesia Kriuchko, and Anna Sirko. "WORLD EXPERIENCE ADAPTATION OF ANTI-CRISIS MANAGEMENT OF ENTERPRISES IN THE CONDITIONS OF NATIONAL ECONOMY’S TRANSFORMATION." Baltic Journal of Economic Studies 6, no. 3 (August 5, 2020): 171–82. http://dx.doi.org/10.30525/2256-0742/2020-6-3-171-182.
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The purpose of the article is to systematize and generalize the experience of leading countries to form and implement an effective crisis management system; to clarify the role of the state in the formation and implementation of anti-crisis regulation strategy of the real sector of the economy, as well as to substantiate the main methodological provisions of its formation. The subject-matter of the study is the methodological and conceptual foundations of the process of the effective crisis management system of the USA, China, Japan, the EU and Ukraine. Methodology. The research is based on the set of well-known general scientific and special methods of research in economics. In particular, the dialectical method, the method of scientific abstraction, the method of systematic analysis, economic and mathematical modeling has been used in the article. Conclusion. The world experience of solving the problems of enterprise bankruptcy is generalized. The experience of the USA, Japan, China, the countries of the European Union is considered. The econometric model taking into account the heteroskedasticity of the residues shows that an increase of 1% Central government debt, bank capital to assets ratio, expense, exports of goods and services, foreign direct investment, net inflows will increase GDP by 2.41%, 1.53%, 1.23%, 2.03%, and 1.19% respectively in the studied countries. Examining the experience in the field of crisis management, it should be noted that in Europe there is a selective approach aimed at stimulating the activities of specific companies; public sector priorities are education, health care, pensions, and the labor market. In addition, in some countries in order to find innovative structures of enterprises, increase their competitiveness and efficiency, out of the crisis, the development of privatization programs is used, which in each country have their own characteristics. World experience shows that the models of anti-crisis management constructed in different countries of the world provide various potential opportunities for progressive socio-economic changes. However, none of them can be used in its pure form in the formation of anti-crisis management policy in Ukraine. This is due to the conditions of accumulation of this experience by countries, the formation of mechanisms and institutions in a balanced economy, differences in the construction of financial and credit mechanisms, and so on. The use of positive experience should be the first step towards reforming the crisis management system.
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Jayawardana, Sahan, Jonathan Cylus, and Elias Mossialos. "It’s not ageing, stupid: why population ageing won’t bankrupt health systems." European Heart Journal - Quality of Care and Clinical Outcomes 5, no. 3 (May 3, 2019): 195–201. http://dx.doi.org/10.1093/ehjqcco/qcz022.
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Abstract An ageing population is often viewed as a factor that will increase healthcare expenditures (HCE) to unsustainable levels. With nearly half the disease burden in high-income countries arising in older people, there are concerns that caring for a burgeoning older population that is sick and dependent on support will not be possible. The aim of this narrative review is to examine how population ageing is likely to affect future HCE growth. We find that despite the increasing share of older people over the next few decades, the changing age-mix will not be a significant driver of HCE growth. While older people, on average, incur higher per person healthcare spending than younger people, the proportions of the population at the oldest and most costly age groups increase very slowly over time. In the European Union, we estimate the changing age-mix to result in the increase of the average annual growth in per person health spending by no more than 0.6 additional percentage points per year between 2015 and 2050. Therefore, price growth and technological advancements, independent of population ageing, will be the main contributors to future HCE growth.
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Smerichevskyi, Serhii, and Svitlana Gura. "STRATEGIC MECHANISMS OF REGULATING THE EUROPEAN INTEGRATION DEVELOPMENT OF AIR TRANSPORT IN UKRAINE." Green, Blue & Digital Economy Journal 2, no. 1 (March 29, 2021): 53–59. http://dx.doi.org/10.30525/2661-5169/2021-1-8.
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The purpose of the paper is to substantiate the strategic mechanisms for regulating the European integration development of air transport in Ukraine. Methodology. The study is based on the imperatives of European integration development of air transport of Ukraine, defined in the Association Agreement between the European Union and the European Atomic Energy Community and their member states, on the one part, and Ukraine, on the other part. Quantitative research is based on the analysis of the volume and structure of Ukraine’s foreign trade in air transport services, calculation of the export-import coverage ratio, determination of the share of transport and air transport services in aggregate services in total foreign trade, including with the EU. Results of the paper consist in assessing the impact of the external environment on the European integration development of the Ukrainian aviation transport. The conclusion was reached on its turbulence, complexity and contradiction, while the advantageous geographical location and strategic positions of Ukraine in the region were determined as the main favorable factors. The research also singles out the following negative signs of the external environment: declining competitiveness of the Russian-Asian lanes for domestic air carriers, localization of air services in connection with hostilities in the East of Ukraine; restriction of air traffic in the context of preventive measures to combat the spread of coronavirus infection; insufficient material and technical base: lack of funding, outdated technologies, low level of innovation, environmental friendliness, safety, insufficient quality of transport services, limited social benefits; aimed at ratification of the CAA Agreement between Ukraine and the EU, as well as the draft Aviation Transport Strategy of Ukraine. The present research also identified such negative effects of COVID-19 on the development of air transport, as: a significant decrease in air passenger transport services and airlines’ revenues, a decrease in the rating of world aviation, termination and bankruptcy of a number of airlines and airports due to air traffic restrictions. It determined the place of air transport services in the system of foreign economic trade in services with the EU countries, and developed measures to increase them. Practical implications consist in the elaboration of the main strategic guidelines for the development of aviation: introduction of a simplified procedure for implementing the provisions of EU legislation into the legislation of Ukraine; ensuring environmental safety and energy saving of civil aviation facilities; innovative renewal of aircraft fleet and reduction of their harmful impact on the environment through the introduction of the latest technologies; settlement of issues relating to the establishment of airport charges for the servicing of aircraft and passengers at Ukrainian airports; development of airport infrastructure; creation of multimodal cargo complexes; approximation of SAAU and European Commission requirements to certification systems in the areas of primary airworthiness, airworthiness maintenance and maintenance of aircraft and its components; expansion of Ukraine’s voluntary participation in the program of compensation and reduction of carbon dioxide emissions from international aviation within the CORSIA program, introduction of administrative procedures for monitoring emissions by operators of civil aircraft on international flights under the MRV standards. Value/originality. The present research substantiates strategic foundations of the institutional transformations of the development of aviation transport in the context of the European integration choice of Ukraine and the transition to monovectorality, elimination of defects of dependence on the trajectory of the preceding traffic and polyvectorality. It also proposes legal, policy, investment and infrastructure integration mechanisms.
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Succurro, Marianna. "Financial Bankruptcy across European Countries." International Journal of Economics and Finance 9, no. 7 (June 12, 2017): 132. http://dx.doi.org/10.5539/ijef.v9n7p132.
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The aim of this research is to describe corporate bankruptcy across Western European countries and propose a simple and reliable default prediction model for private manufacturing firms in six EU member states. Using firm-level accounting data taken from the Orbis-Europe Database, published by Bureau Van Dijk, we first propose a simple Indebtedness index which considers the multifaceted aspects of debt and allows to make interesting comparison among firms, countries, industrial sectors and over time. Second, we estimate a logit model, based on both the first step computed Indebtedness score and additional non-financial firms’ characteristics, which allows to compute firms’ predicted probabilities of default in each country. The empirical findings show that the Indebtedness score is statistically significant in explaining bankruptcy and it enters all the regressions with the highest coefficient and level of significance. However, while the indebtedness score is a valuable bankruptcy predictor for Italy, Germany, Portugal and Spain, which are bank-based economies, it is relatively less important for France and UK, being countries more strongly oriented toward the financial market. The overall evidence highlights a good reliability of our multi-country model for the prediction of corporate bankruptcies across Europe.
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Skoczyński, Michał. "Greek refugees and emigrants from former Bizantine Empire in the Kingdom of Poland in the context of the modern migration crisis in Europe." Open Political Science 2, no. 1 (December 31, 2019): 200–206. http://dx.doi.org/10.1515/openps-2019-0020.
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AbstractThe The Ottoman Turks since the mid-fourteenth century led a gradual conquest of Anatolia and the Balkans. It’s symbolic culmination was the capture of Constantinople in 1453. In this way, a great population of Orthodox Greeks came under the rule of a Muslim sultan. Many of them decided to escape abroad to avoid robbery, rapes and captivity by the victorious forces. In the following years, when initially gentle policy towards the conquered community began to tighten, another wave of Greek migration emerged outside the Ottoman state. Subsequent groups fled from persecution after successive anti-Turkish uprisings. Of these refugees, the largest group settled in neighboring countries - Moldova, Wallachia and Hungary. People with greater financial or intellectual potential - philosophers, scholars, members of the social elite of the fallen Byzantine Empire - chose exile. They headed for Western culture centers, where they could continue their careers or seek support for their political plans. Merchants and craftsmen, who wanted to use their capital and skills at the crossroads of trade routes in the then Kingdom of Poland, which was in union with the Grand Duchy of Lithuania, also constituted a larger group. Thanks to their unique handicraft skills and trade contacts in the south, many of these Greeks gained a strong position in the new environment. Some of them made a fortune and even obtained noble titles, though many of them lived modestly or even went bankrupt as a result of the actions of their Polish competitors and had to leave the country. The circumstances and effects of Greek migration leaving the Ottoman state show many similarities to the migration of the population during the modern migration crisis in Europe. An analysis of the events from half a thousand years ago may prove useful in building plans to solve the problem of refugees from the Middle East and to root and integrate migrant communities within the European Union.
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Pantazi, Tania. "Airline Bankruptcy and Consumer Protection in the European Union." Air and Space Law 35, Issue 6 (November 1, 2010): 409–21. http://dx.doi.org/10.54648/aila2010045.
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Airline bankruptcy is a common phenomenon in Europe, especially in the last decade. A sudden interruption of operations is often the result of air carrier’s financial problems or the revoking of its operating license. The liberalization of air transport industry in Europe, along with other factors, has contributed to the increase in the number of airline bankruptcies. Consumers facing airline bankruptcies, however, are not always protected, as there are cases in which passengers were stranded abroad or not compensated because of lack of assets. The existing legal framework of the European Community does not contain any specialized provision, although there is Community legislation on the monitoring of airline finances, travellers’ rights, and insolvency proceedings. This article examines the relevant legal instruments and discusses potential amendments to legislation, such as mandatory insurance or the creation of compensation funds, in order to provide consumers with effective protection against airline insolvency.
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Bilohur, Vlada, and Roman Oleksenko. "THE EUROPEAN SPORT MODELS MANAGEMENT IN THE EUROPEAN UNION COUNTRIES EUROPEAN UNION." HUMANITIES STUDIES 90, no. 13 (2022): 59–68. http://dx.doi.org/10.26661/hst-2022-13-90-07.
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Dukić-Mijatović, Marijana, and Ozren Uzelac. "Origin and legal regulation of the second chance for entrepreneurs in the European Union." Strani pravni zivot, no. 1 (2021): 91–104. http://dx.doi.org/10.5937/spz65-28236.
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In the history of human civilization, there has always been the problem of overindebtedness and personal bankruptcy, as well as the tendency to protect such persons to some extent from excessive sanctions or the consequences of their insolvency. Benevolence towards the debtor is limited by the existence of conditions of conscientiousness and honesty of the debtor in all legal systems, while the amount of debt forgiveness is different. Debt relief and providing a new chance to the entrepreneur is a kind of systemic social measure that should ensure the employment of the individual and his family, but also to ensure the continuity of the capitalist system. It is noticeable that benevolence towards the debtor through debt relief was a characteristic of the Anglo-Saxon jurisdictions, while the regulations of the states of legal systems based on Roman law were traditionally oriented in the opposite direction. Although the Republic of Serbia has regulated the matter of bankruptcy and reorganization, in many parts under the EU Directive on reorganization and bankruptcy from June 2019, it has not been the case with the area of the second chance for the entrepreneur and the possibility of debt release, so it will be necessary to adjust national regulations of bankruptcy. In this paper, the authors analyze the origin of debt forgiveness in case of entrepreneur bankruptcy through history and theories, and select the comparative law and provisions of the EU Directive on reorganization and bankruptcy which regulate the second chance for entrepreneurs, as well as the purpose and measures that preceded the adoption of this Directive. Another important possibility for insolvent entrepreneurs is their personal administration with bankruptcy estate during the process of reorganization. Entrepreneurs' personal administration is regulated by bankruptcy legislation in various ways in comparative legal systems, and in Serbian law, it had been regulated for the first time by the Bankruptcy Procedure Act of 2004, but repealed by the Bankruptcy Act in 2009. Taking into account its importance for the national bankruptcy law, Serbian legal theory has already given the reasons due to which it is necessary to reintroduce the institute of personal administration of debtors into domestic bankruptcy law. On the other hand, sole debt release in Serbian law comes into effect at the moment the creditor declares to the debtor that he will not ask for the fulfillment of the debt and the debtor agrees with that, and such an agreement is made in writing. Debt release is a possibility provided in the Agreed Financial Restructuring Act 2015 that creditor and debtor may use during the process of reorganization, provided they reach an agreement to that end.
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Stec, Małgorzata. "Innovation in European Union Countries." Gospodarka Narodowa 236, no. 11-12 (December 31, 2009): 45–65. http://dx.doi.org/10.33119/gn/101233.
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Rodríguez-Gulías, María Jesús, Vítor Manuel de Sousa Gabriel, and David Rodeiro-Pazos. "Effects of governance on entrepreneurship: European Union vs non-European Union." Competitiveness Review: An International Business Journal 28, no. 1 (January 15, 2018): 43–57. http://dx.doi.org/10.1108/cr-06-2016-0035.
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Purpose The purpose of this paper is to analyse the effect of six governance indicators on the rate of creation of new companies between countries that are members of the European Union (EU) and those that are not. H1 states that the various dimensions of governance help to explain the immediate creation of new businesses in European and non-European countries. H2 states that the various dimensions of governance help to explain the deferred creation of new businesses in European and non-European countries. Design/methodology/approach The paper uses two types of analyses: firstly, univariate analysis, which is a descriptive statistics of the dependent, independent and control variables, and the results of a t-test; and secondly, multivariate analysis, which estimates using the fixed-effects estimator under the specifications previously raised for the subsample of 28 EU countries and for the subsample of 103 non-EU countries during the period 2004-2014. Findings The results show that the variables of governance are not significantly higher in the EU, although the density of the enterprises is. Within the governance indicators, government effectiveness is significant in the EU. The results obtained for the EU confirmed H1and H2, with a significant positive effect of government effectiveness on entrepreneurship, while the other governance variables were not significant in the EU subsample. The results obtained for non-EU countries suggest no significant immediate effects (H1) and a slightly significant delayed effect of rule of law on the entrepreneurship (H2) concerned. Research limitations/implications Future research in this area could consider introducing another regional division or other types of methodology as variables affect models. Practical implications Governance can be defined as the ability of a government and its public institutions to provide services and design, and implement rules, which is a factor that affects the creation of new companies. However, the effect of governance could differ depending on the country and its economic environment. This paper analyses the effect of six governance indicators on the rate of creation of new companies considering two different geographic regions as countries are presumably heterogeneous. Therefore, these results indicate that the effect of governance variables on entrepreneurship differs according to the region. Social implications The effect of governance variables on entrepreneurship according to the region is also known. Originality/value This study applied panel data analysis to two samples of countries during the period 2004-2014, one formed by 28 countries of the EU and the other by 103 non-EU countries. No other paper considers this number of countries for this period. To assess the impact of governance on the creation of new companies, this paper considered the existence of immediate and deferred effects of governance on entrepreneurship.
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Joumard, Isabelle. "Tax systems in European Union countries." OECD Economic Studies 2002, no. 1 (May 7, 2003): 91–151. http://dx.doi.org/10.1787/eco_studies-v2002-art4-en.
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Hsieh, Jin-chi, Ching-cheng Lu, Ying Li, Yung-ho Chiu, and Ya-sue Xu. "Environmental Assessment of European Union Countries." Energies 12, no. 2 (January 18, 2019): 295. http://dx.doi.org/10.3390/en12020295.
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This study utilizes the dynamic data envelopment analysis (DEA) model by considering time to measure the energy environmental efficiency of 28 countries in the European Union (EU) during the period 2006–2013. There are three kinds of variables: input, output, and carry-over. The inputs are labor, capital, and energy consumption (EC). The undesirable outputs are greenhouse gas emissions (GHE) and sulfur oxide (SOx) emissions, and the desirable output variable is gross domestic product (GDP). The carry-over variable is gross capital formation (GCF). The empirical results show that first the dynamic DEA model can measure environment efficiency and provide optimum improvement for inefficient countries, as more than half of the EU countries should improve their environmental efficiency. Second, the average overall scores of the EU countries point out that the better period of performance is from 2009 to 2012. Third, the output variables of GHE, SOx, and GDP exhibit a significant impact on environmental efficiency. Finally, the average value of others is significantly better than high renewable energy utilization (HRE) with the Wilcoxon test. Thus, the EU’s strategy for environmental energy improvement should be to pay attention to the benefits of renewable energy (RE) utilization, reducing greenhouse gas emissions (GHE), and enhancing the development of RE utilization to help achieve the goal of lower GHE.
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Gajos, Edyta, Sylwia Małażewska, and Konrad Prandecki. "EMISSION EFFICIENCY OF EUROPEAN UNION COUNTRIES." Annals of the Polish Association of Agricultural and Agribusiness Economists XX, no. 6 (December 10, 2018): 55–60. http://dx.doi.org/10.5604/01.3001.0012.7732.
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The aim of the study was to compare the total greenhouse gas emissions in the European Union countries and their emission efficiency. Emission efficiency was calculated as the ratio of emission volume and value to gross value added generated by the economy of a given country (size of the economy). The necessary statistical data was obtained from Eurostat. It was found that in 2015 most of greenhouse gases were emitted by: Germany, United Kingdom, Poland, France and Italy. At the same time, France and the United Kingdom were characterized by one of the best emission efficiency in the European Union, Germany and Italy obtained average results, while Poland was in the group of countries with the lowest emission efficiency. Therefore, it can be concluded, that the volume of emissions is significantly affected by the size of the economy. Some large emitters have economies based on relatively “clean” technologies and thus their potential to further reduction is not very high. The reverse is true for some low-emission countries, such as Estonia and Bulgaria. This indicates the need for a more comprehensive look at the problem of reducing greenhouse gas emissions.
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Kraciuk, Jakub. "FOOD SECURITY OF THE EUROPEAN UNION COUNTRIES." Annals of the Polish Association of Agricultural and Agribusiness Economists XIX, no. 3 (August 22, 2017): 150–55. http://dx.doi.org/10.5604/01.3001.0010.3238.
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The aim of the study was to show the state of food security in European Union countries and defines the basic factors determining the level of this security. There is a large disproportion in the state of food security between individual European Union countries, especially between old and new EU countries. It was determined that in the analyzed years average prices of products and their quality deteriorated in the countries of the European Union. The unfavorable changes that have taken place were not too great. On the other hand, the average indicator for the analyzed countries regarding access to food has clearly improved.
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Grabowska, Barbara. "Education of teachers in European Union countries." Osvitolohiya, no. 3 (2014): 40–41. http://dx.doi.org/10.28925/2226-3012.2014.3.4045.
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Gajewski, Paweł. "Public Finance Sustainability in European Union Countries." Gospodarka Narodowa 251, no. 10 (October 31, 2011): 21–38. http://dx.doi.org/10.33119/gn/101072.
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Elbashir, Rania. "LIBYA'S FOREIGN TRADE WITH EUROPEAN UNION COUNTRIES." MEST Journal 10, no. 2 (July 15, 2022): 64–70. http://dx.doi.org/10.12709/mest.10.10.02.07.
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The subject of this empirical and theoretical work is the exchange of foreign trade in Libya with the countries of the European Union. The scientific objective of the research is to make a scientific classification of the volume of foreign trade between Libya and the European Union countries and to discover the factors that hinder foreign trade and explain them scientifically. European countries also support this cooperation and contribute significantly to the formulation of future cooperation policies with Libya in various social, political, and economic fields. However, this cooperation takes place in light of objective difficulties arising from the conflicting interests of Western countries in North Africa and Libya. Since these relations are burdened with many problems of different nature, we started this paper from two assumptions: The first premise is that in the trade relations between Libya and the European Union, there are common interests for foreign trade that are more feasible. The second premise is that more encouragement and protection for investments by the countries of the European Union helps in new qualitative development and economic growth in Libya, which will significantly improve trade relations between Libya and the countries of the European Union.
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Kavelaars, Peter. "The foreign countries of the European Union." EC Tax Review 16, Issue 6 (December 1, 2007): 268–73. http://dx.doi.org/10.54648/ecta2007044.
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Szymańska, Agata. "Tax revenues in the European Union countries." Wiadomości Statystyczne. The Polish Statistician 62, no. 5 (May 26, 2017): 79–99. http://dx.doi.org/10.5604/01.3001.0014.0921.
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The aim of this paper is to analyse tax revenues and examine similarities of selected tax revenues (mainly VAT, CIT, PIT and excise duty) in the European Union countries. The analysis of the EU members concerns the period between 2003 (i.e. the year preceding the biggest enlargement of the EU) and 2012 (due to data completeness). Tax rates and the structure of tax revenues in the EU countries were compared and then the cluster analysis was applied to assess the similarity of tax revenues. The analysis suggests that the process of tax harmonization, which took place in the period considered, did not exert a significant impact on the similarity of the structure of tax revenues in the EU countries. The structure seems to be still determined by e.g. social, economic or historical factors, which influenced the tax systems creation in particular EU countries.
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Brozo, William G., E. Sutton Flynt, Gerry Shiel, Ulla-Britt Persson, Christine Garbe, and Lydia Dachkova. "Content Reading in Four European Union Countries." Reading Teacher 63, no. 2 (October 2009): 170–73. http://dx.doi.org/10.1598/rt.63.2.10.
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MUFTAKHOVA, A. N. "TERRITORIAL MOBILITY IN THE EUROPEAN UNION COUNTRIES." Central Russian Journal of Social Sciences 14, no. 1 (2019): 145–60. http://dx.doi.org/10.22394/2071-2367-2019-14-1-145-160.
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Saman Shojae Chaeikar, Mazdak Zamani, Christian Sunday Chukwuekezie, and Mojtaba Alizadeh. "Electronic Voting Systems for European Union Countries." Journal of Next Generation Information Technology 4, no. 5 (July 31, 2013): 16–26. http://dx.doi.org/10.4156/jnit.vol4.issue5.3.
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Legros, F., and M. Danis. "Surveillance of malaria in European Union countries." Eurosurveillance 3, no. 5 (May 1, 1998): 45–7. http://dx.doi.org/10.2807/esm.03.05.00103-en.
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The European Union countries are outside the endemic area for malaria, but many cases of malaria contracted elsewhere are imported into Europe each year. Several countries have reported high and increasing numbers of imported cases in recent years (France
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Afonso, Oscar, Ana Lurdes Albuquerque, and Alexandre Almeida. "Wage inequality determinants in European Union countries." Applied Economics Letters 20, no. 12 (August 2013): 1170–73. http://dx.doi.org/10.1080/13504851.2013.797551.
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Lewis, Alfred, and Owusu Kwarteng. "The European Union: implications for developing countries." European Business Review 95, no. 5 (October 1995): 3–8. http://dx.doi.org/10.1108/09555349510096090.
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Branco Pedro, João, Frits Meijer, and Henk Visscher. "Building control systems of European Union countries." International Journal of Law in the Built Environment 2, no. 1 (April 20, 2010): 45–59. http://dx.doi.org/10.1108/17561451011036513.
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Economou, Athina, and Iacovos N. Psarianos. "Revisiting Okun’s Law in European Union countries." Journal of Economic Studies 43, no. 2 (May 9, 2016): 275–87. http://dx.doi.org/10.1108/jes-05-2013-0063.
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Purpose – The purpose of this paper is to examine Okun’s Law in European countries by distinguishing between the transitory and the permanent effects of output changes upon unemployment and by examining the effect of labor market protection policies upon Okun’s coefficients. Design/methodology/approach – Quarterly data for 13 European Union countries, from the second quarter of 1993 until the first quarter of 2014, are used. Panel data techniques and Mundlak decomposition models are estimated. Findings – Okun’s Law is robust to alternative specifications. The effect of output changes to unemployment rates is weaker for countries with increased labor market protection expenditures and it is more persistent for countries with low labor market protection. Originality/value – The paper provides evidence that the permanent effect of output changes upon unemployment rates is quantitatively larger than the transitory impact. In addition, it provides evidence that increased labor market protection mitigates the adverse effects of a decrease in output growth rate upon unemployment.
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Agiakloglou, Christos, and Emmanouil Deligiannakis. "Sovereign risk evaluation for European Union countries." Journal of International Money and Finance 103 (May 2020): 102117. http://dx.doi.org/10.1016/j.jimonfin.2019.102117.
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Giambona, Francesca, Erasmo Vassallo, and Elli Vassiliadis. "Educational systems efficiency in European Union countries." Studies in Educational Evaluation 37, no. 2-3 (June 2011): 108–22. http://dx.doi.org/10.1016/j.stueduc.2011.05.001.
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Cahlík, Tomáš. "Central and east european countries after entering the european union." Prague Economic Papers 11, no. 1 (January 1, 2002): 3–16. http://dx.doi.org/10.18267/j.pep.185.
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Samardžija, Višnja. "European union and central european countries reducing barriers or not?" International Advances in Economic Research 1, no. 1 (February 1995): 81. http://dx.doi.org/10.1007/bf02295861.
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Fidrmuc, Jarko. "Restructuring European union trade with central and eastern European countries." Atlantic Economic Journal 28, no. 1 (March 2000): 83–92. http://dx.doi.org/10.1007/bf02300533.
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