FISCAL POLICY AND THE NEED OF ITS COORDINATION WITH THE MONETARY POLICY IN THE CURRENT ECONOMIC CRISIS

The aim of this article is to present the role of fiscal and monetary policy and the way they affect economies of the countries facing a crisis, as well as their ability to contribute to the sustainable economic growth. We will focus on the countries of the European Union and the Romanian economy and will highlight the need to correlate fiscal and monetary issues in order to achieve a fiscal and monetary convergence at the level of the European Union. We will find that the interdependence string of these policies mainly starts from the tax systems structure, by means of which the annual union budget funds are mostly achieved, which, in turn, is the funding source of the monetary policy implementation. We will also observe the need for a correlation between monetary and fiscal issues in order to achieve an efficient and sustainable economic activity in the European Union.