International Framework and Alternative Strategies

Abstract

The year 2001 was not particularly positive for the world economy: weaker growth in world demand associated with a marked decrease in securities values significantly reduced economic growth in both the United States and the Euro zone. At the same time, we witnessed an increase in unemployment in the majority of OECD countries. Consequently, the changing international conditions negatively influenced the government finance picture of various European and non-European countries. The situation was additionally worsened after the events of September 11