THEORETICAL CONCEPTS OF STATE SOVEREIGNTY IN ITS ECONOMIC POLICY IN THE EUROPEAN ECONOMIC INTEGRATION

The objective of the paper is to systemise the contemporary attempts to define state sovereignty, and, in particular, the realisation by a sovereign state of its economic functions in conditions of a tightening economic integration. The authors start by looking at the classic concept of state sovereignty and then confront it with the competences of a state at different stages of European integration and in the Euro zone. Those consideration also include the relation between state sovereignty and the principle of subsidiarity. The paper ends with a description of a contemporary definition of state sovereignty in the area of economic policy