Spiegel, Mark M. - Federal Reserve Bank of San Francisco - 2008
intervention.
JEL classi cation: F15, F33, F34
Key words: euro, EMU, monetary union, bank lending, nancial diversion
Mark … increased nancial integration within the union
itself, a phenomenon known as the "euro e ect." It therefore appears that this … accession.
While early evidence of a euro e ect on nancial integration was mixed [e.g. Adam, Japelli,
Menichini, Padula, and …