EXTERNAL PUBLIC LOANS OF EU COUNTRIES AS A FACTOR OF STRENGTHENING OF MACROECONOMIC IMBALANCES IN THE REGION

The article explores issues related to the impact of public borrowing by individual EU countries on the entire region. It is proved that the external state borrowings of individual EU countries, which led to the debt crises in these countries, significantly influenced the slowdown in the growth of the whole association. The interrelation and mutual influence between external borrowing and the state debt of EU-28 and EU-19 are considered, and also the influence of the budget deficit on these indicators is revealed. The problems of state guarantees and its interrelation with the state of state borrowings of the EU countries are investigated.