THEORETICAL EVALUATIONS ON THE LEGISLATIVE FRAMEWORK OF FISCAL GOVERNANCE IN THE EUROPEAN UNIO

The fiscal governance process aims at synchronizing the consolidation of fiscal positions and supporting the medium and long-term structural reforms of the adhering member countries through monitoring, evaluation and incidence of fiscal processes on the economic environment at each stage of its design, ex-ante implementation / execution and ex-post results, thus having the potential to identify slippages from the objectives and their adjustment during the current fiscal exercise or in the next fiscal exercise. To achieve its goal, this process is based on rules, regulations and procedures that provide the framework for national government planning, implementation and guidance of fiscal policy. In the present paper,we deal with the theoretical fiscal governance from the theoretical point of view, the legislative evolution and the effectiveness of this process, through the successive reforms it has undergone.