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The European Banking System. Track Record And Achievement

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  • Adela Ionescu

    (”Nicolae Titulescu” University, Bucharest, Romania)

Abstract

The banking system of Europe has experienced two decades of turbulence. Through the 1990’s a wave of mergers, liquidations and bankruptcies has swept the sector. This wave was at its peak the last years of the 1990’s and the 2000-2004 period. Since then the number of exits from the sector has been relatively stable. It is notable that the cooperative banks suffered more than the commercials. This fact can be attributed to their smaller size, ownership structure, management efficiency etc.During the last decade a great number of events have forced the banking system in Europe to transform, to adapt to a new financial, economic, political and social environment. Two financial crisis (2001-2002 and 2008-2009), two voluntary attempts to regulate the financial system (Basel II and III), the introduction of the Euro and the establishment of the European Central Bank, several regulation attempts to create an isomorphic legal environment, financial scandals of 2001-2002, 2008 and the globalization of the financial sector are some of the events that created a new environment for the financial sector.

Suggested Citation

  • Adela Ionescu, 2014. "The European Banking System. Track Record And Achievement," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(2), pages 093-102, November.
    • Handle: RePEc:ntu:ntugeo:vol2-iss2-14-093
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    References listed on IDEAS

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    Cited by:

    1. Stefano Valdemarin, 2018. "The Successful Internationalization of Intesa Sanpaolo Bank in Central and Eastern Europe: Acquisitions, Insidership and the Uppsala Model," Central European Business Review, Prague University of Economics and Business, vol. 2018(1), pages 46-57.

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