PROGRESS ON THE DEVELOPMENT OF THE EUROSYSTEM PAYMENT SYSTEMS AND THE EUROPEAN SYSTEM OF CENTRAL BANKS

Irina-Elena Chirtoc and Lucian-Ion Medar
Additional contact information
Irina-Elena Chirtoc: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA
Lucian-Ion Medar: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU, ROMANIA

Annals - Economy Series, 2017, vol. 2Special, 63-68

Abstract: In order to achieve the objectives and measures set out in the consolidation and completion of the Economic and Monetary Union, a strong European banking system is needed to avoid a possible financial crisis. The progress made and the promotions of the smooth operation of payment systems are the main task of the ESCB. In the same direction, the European System of Central Banks promotes scientific and technical progress for holding and administering the official foreign exchange reserves of the Member States as well as for the safe conduct of the foreign exchange operations of the beneficiaries and, in particular, for defining and implementing the monetary policy of the European Union. In an effective and stable economic and monetary union, an integrated financial system operating on a common platform and well-defined, standardized rules is required. Progress in SEPA on risk mitigation and sharing in the banking sector was possible through the measures adopted for the development of TARGET and the implementation of TARGET2 aimed to enhancing the reliability of the settlement of the operations of the European Central Bank and of all EU credit institutions.

Keywords: SEPA; TARGET2; TARGET2S (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.utgjiu.ro/revista/ec/pdf/2017-02.Volumul_2_Special/09_Chirtoc.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2017:v:2special:p:63-68

Access Statistics for this article

More articles in Annals - Economy Series from Constantin Brancusi University, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ecobici Nicolae ( this e-mail address is bad, please contact ).