CREATING THE ECONOMIC AND MONETARY UNION IN EUROPE, A REQUISITE FOR MAINTAINING THE EFFICIENCY AND STABILITY OF THE INDIVIDUAL AND THE GROUP FINANCIAL SYSTEM

The Eurosystem in an active factor in consolidating the measures which contribute to the financial stability of both the euro area and the European Union, generally, and it has become more and more necessary due to the ever stronger tendency towards integrating and developing the financial markets in Europe. In the field of financial crisis management, through the BCE, the Eurosytem performs annual macro-prudential and structural appraisals of the banking system in the EU and promotes closing voluntary cooperation agreements between the authorities. In order to consolidate financial stability, a constant improvement of the monetary policies is necessary to respond to the challenges arising from the complexity of the EU institutional framework.