CURRENT ASPECTS OF THE EUROPEAN MONETARY INTEGRATION STEMMING FROM THE THEORY OF OPTIMAL MONETARY AREAS AND SUBSEQUENT ASSOCIATED AMENDMENTS. PERSPECTIVES FOR THE CASE OF ROMANIA

Silviu-Marius Seitan
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Silviu-Marius Seitan: Centre for Financial and Monetary Research "Victor Slavescu", N.I.E.R., Romanian Academy, Bucharest, Romania

Journal of Financial and Monetary Economics, 2021, vol. 9, issue 1, 143-151

Abstract: The main feature of the difference between Eurozone and non-euro area membership is the preservation of monetary independence and monetary policy flexibility. The difference between the two types of status can also be revealed in terms of the complexity of the criteria needed to address international economic relations in a way that ensures risk management and reduces the impact of shock reception. At present, from the point of view of the economic situation, Romania is facing the following challenges: the management of current macroeconomic risks; assessment of prospects and preparation for accession to the Eurozone. The economic outlook, which is still insufficiently predictable, is likely to deepen existing macroeconomic imbalances, which could lead to a reduction in the capacity to respond to possible economic shocks.

Keywords: financial; integration; sustainability; correlation; risks (search for similar items in EconPapers)
JEL-codes: F45 (search for similar items in EconPapers)
Date: 2021
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