Abstract:

Aim of this article is to highlight the emerging problematic growth of state debt in the European Union with specified macroeconomic indicators. Performance analysis of selected European countries has aimed to show the existence of imbalances in the euro area and decreasing competitiveness of countries in financial markets. In the first part, I have focused our attention on the concept of quantitative easing and its position on the European market. The aim of this focus is to find if this concept is correct, or if it is beyond the economic substance. Subsequently, I have analyzed the performance of selected countries from Euro Zone by means of using basic fiscal criteria of the Maastricht Treaty from 1998 to 2009 and how fiscal criteria affect state budget in the long and short term time periods. The last part is focused on one of possible solutions reducing government deficits – the securitization and bond issue.