CONVERGENCE PROCESS- PRECONDITION FOR ENSURING FINANCIAL AND MONETARY STABILITY IN EURO AREA

Anca Elena Nucu ()
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Anca Elena Nucu: Alexandru Ioan Cuza University of Iasi, Romania

The Annals of the "Stefan cel Mare" University of Suceava. Fascicle of The Faculty of Economics and Public Administration, 2011, vol. 11, issue 2(14), 225-232

Abstract: In conditions of financial globalization, innovations’ development and a broad spectrum of risks’ amplification, between financial stability and monetary stability are created an interdependence relationship. Ensuring systemic financial-monetary stability has become a priority of the international economic agenda, particularly for candidate countries to the euro area. The purpose of this article is to highlight the importance of nominal and real convergence as a precondition for financial and monetary stability under Economic and Monetary Union (E.M.U.). Also, we made a comparative analysis of nominal convergence criteria on the example of Central and Eastern Europe countries during the period 2006-2010, stressing, finally, the need to revise the criteria for accession to the Euro zone.

Keywords: financial stability; monetary stability; convergence criteria; economic and monetary union; catching-up process (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ausvfe:v:11:y:2011:i:2(14):p:225-232

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