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Stabilizing exchange rates against euro before accession to EMU and implementation euro
as an official currency is one of the Maastricht criteria. That is why the role of foreign exchange
interventions will be so important. This paper offers the brief guidance on the operational aspect of
foreign exchange interventions, describes and classifies the types of interventions. The paper examines
effectiveness...
The main aim of the paper is to investigate the process of creation of international currency –
euro in European Monetary Union. In the paper the Author analyses four stages of the building of
monetary union as well as the role of dollar and European Currency Unit (or other european currencies)
as international currency.
The main legislation defining the conditions for the operation of investment funds in euro
area are two directives: Directive 2009/65/EC of the European Parliament and of the Councilon
the coordination of laws, regulations and administrative provisions relating to undertakings for
collective investment in transferable securities (UCITS IV Directive) andDirective 2011/61/EU of
the European Parliament...
The aim of the article is to present the monetary policy instruments used by the European Central
Bank during the financial crisis of 2007–2010. There have been many instruments aimed at providing
liquidity to the banking system and reducing short –term interest rates volatility. Apart from the classical
instrument of interest rates reductions, ECB used a broad set of standard instruments and procedures...
The main objective of this article is to present the main stock exchanges and alternative markets
in European Union’s countries after MiFID implementation. The special attention is put to
London Stock Exchange, NYSE Euronext, Deutsche Borse and NASDAQ OMX Group as a leaders.
This paper analyses the structure of the European capital market after the MTF (Mullitirateral
Trading Facilities) appearance...
Participation in the integration grouping is an important asset to the economy in terms of its
attractiveness to foreign investors. Elimination of trade barriers within the common market, macroeconomic
stabilization, lower political risk, legal stability and transparency (including the harmonization
of rules) and institutional development become an important incentive for foreign direct
investment,...
The main aim of this article, is to analyze and evaluate macroeconomic consequences arising
from using the exchange rate regimes. The study has been divided to three parts. In the first section
I have done the theoretical review of the exchange rate regimes functioning these days. The
second part has analytical convention and has been devoted to discuss implications which are result
of implementation...
Economic and monetary union (EMU) is the most advanced form of international economic
integration. The process of establishing the EMU in the European Union was long-lasting and determined
by the dynamics of the European integration, as well as by political initiatives. The first
attempt to create an EMU, made in early 70., turned out to be a failure, mainly due to insufficient
economic integration...
European financial market is a part of the EU single internal market. Significant acceleration
of integration processes on this market took place in 1999 together with the creation of the Financial
Services Action Plan. However, deepening market integration was not accompanied by the construction
of single supervisory structures. The European financial market supervision remained at the national...
In this article the attention is concentrating on one thing of TOOW aspects and the new endogenous
approach which analysis of the commercial interrelation of countries of shared monetary area.
According to McKinnon (1963) the top stair of opening economies of running states is an essential criterion of OOW creating. And so countries can create this area about the great participation of the
foreign...
The aim of the article is to evaluate the European Central Bank’s activity in the context of the
fulfilment of the price stability criterion by the euro area Member States. The paper is divided into
two major parts. The first part focuses on the Theory of Optimum Currency Areas with particular
emphasis on price stability. The second part contains an attempt to assess the European Central
Bank’s...
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