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The paper aims at assessing the changes in flows of selected forms of capital under deepening financial integration in the European Union. EU Member States are divided into two groups: members of the euro area and those outside of it. The analysis coincides with the establishing of the EU monetary union and covers the turn and early 21st century. We have reviewed major theoretical concepts providing...
The last global financial crisis exposed a number of structural weaknesses of the eurozone which generated a great deal of additional costs as well as risks leading almost to its collapse. The creation of the Banking Union is hoped to strengthen the eurozone, however, it may not be enough, even when complemented with other reforms, to fully restore its effectiveness. Implementation of a common budget...
The euro area should have prevented to political conflicts and should have become a basis for further integration in Europe, but the current financial crisis revealed the shortcomings of this monetary union. The publication analyses the causes of failure of the euro zone’s concept in the context of the theory of optimum currency area, the costs and benefits approach and the endogeneity of the optimum...
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