In a context of global crisis, the international financial markets lost faith in the ability of the countries of the European Union (EU27) cope with the accumulated public debts and the financial burden arising. As a result some European countries have requested financial assistance to international institutions (Greece, Ireland, Portugal and Spain). This research aims to certify the financial obligations assumed by the Member of the European Union under the European project as the consolidation of its public finances. It also aims to certify the causes and weaknesses financial and budgetary, as the euro zone, become some of the members vulnerable to the global financial crisis. It aims to, finally, certify the trajectory followed by the euro area Members and explain why the mechanisms of financial discipline failed that should support the functioning of the single euro currency.
Public Debt; Public Budget Consolidation; Public Accounts