The issue of financial instability has been intensely debated over the past few decades both within the academia and by the economy decision-makers. The complexity of the concept and the range of meanings hinder the development of a general, unanimously accepted definition. However, the...

After more than five decades since the problem of the European monetary integration has been introduced into the arena of the politic debates and after almost two decades of changes towards a viable functioning of the Euro Area, it is interesting to make a review of this process and of its main...

This article provides for the identification of the present challenges faced by the monetary policy of the European Central Bank, given that the sovereign debt crisis has complicated the pursuing of its primary objective of the maintaining the price stability. This research is a part of a larger...

The purpose of this article is the assessment of the way in which the propagation of the Lehman-Brothers shock has been reflected on the developments in the balance of payments of some countries in the euro area and the highlighting of the asymmetries, which have emerged due to the generated...

In the context of globalization and regionalization, we consider to be important an analysis of the asymmetries from the balances of payments of the member states of the European Union (EU). The propagation of a shock determines different effects in the member states of the European Union, due...

The global financial crisis created new challenges for the states that have joined the European Union in 2004 and 2007, but that are not yet members of the Euro zone; the maintenance of the convergence indicators below the reference values is a real challenge for the new EU member states. This...

The global financial crisis transmitted several factors which have aggravated the economic situation of the new members of the European Union on the background of their strong financial and trading relations with the developed European countries. This article is a brief presentation of some...

Optimizarea unei zone monetare, în sensul unei funcţionări viabile pe termen lung, se fundamentează pe capacitatea acesteia de a gestiona şocurile asimetrice care tind să se propage în interior. Un şoc macroeconomic comun propagat în cadrul tuturor subsistemelor poate fi asimetric în...

Over the time, the Euro area proved to be an experimental region, an analytical model for the process of monetary integration, therefore a support for the development of the concept of optimum currency area. The global financial and economic crisis which started in 2007 and which changed the...

The project goal is to realize a pragmatic and analytical study on the new economic governance regarding the adoption of the single currency by the new member states of the European Union, while identifying the trends of major interest for Romania within the new post-crisis context. On these...