European Financial Integration and the Recent Crisis

Apãtãchioae Adina ()
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Apãtãchioae Adina: Faculty Of Economics and Business Administration, "Alexandru Ioan Cuza" University, Ia?i, România

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 1, 126-131

Abstract: Financial integration, the greatest achievement of the European Union, offer many advantages both in terms of the financial sector and also the private sector. The purpose of this article is to highlight in which way the recent crisis has affected financial integration and also the manner in which the common market influenced the triggering of financial turmoil. Literature renders the positive effects who can be felt as a result of financial integration, but in the circumstances of the crisis were highlighted and some disadvantages of such a process. Analyzing movements in the money market, sovereign debt market and retail banking, we see that financial integration was one in development, evolution who has been affected by the recent crisis. We conclude that liberalization was the trigger factor of recent crisis, but the reforms undertaken in this sense can ensure an sound financial integration, an sustainable economic environment and economic growth.

Keywords: financial integration; financial crisis; reform (search for similar items in EconPapers)
JEL-codes: F41 F51 F53 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xii:y:2012:i:1:p:126-131

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