Numerical dynamic programming in economics

Abstract

The challenges of the financial turmoil of the last four years were likely to shake the foundations of the global economic structures, some being more or less affected by them. Under these conditions, a fundamental question arises: Will this crisis bring structural reforms in the regional groups, thus changing the facade of the world or not? At least at the European Union’s level, it seems that the bliss is over, thus revealing the fragility of the whole European system. Thereby, the purpose of this paper is to analyse the economic crisis in the EU in order to distinguish the Union’s direction regarding the integration: is more or less integration necessary for its survival? In order to achieve the set objective, the study focuses on statistical data and literature reviews with the explanation and interpretation of this information from a personal perspective. What we have seen is that all the member states of the European Union have been affected by the crisis, thereby leading to high economic and social costs. These implications have great repercussions, currently the credibility of the European Union being questioned. In order for the European Union to surpass this stall, more integration at a European level is needed.

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