The Integration of Czech Banking into the European Single Market
This article analyses the progress of the integration of the Czech banking sector into the European Single Market. Different stages of the integration effort are assessed together with their main factors. The introduction of the euro in the Czech Republic as a legal tender subsequent to the achievement of Maastricht criteria is herein defined as the final stage of such integration. Among the integration factors addressed in the paper are: macroeconomic conditions, the degree of liberalization of capital movements, institutional conditions, harmonization of banking legislation, and outstanding microeconomic and institutional preconditions. In each of these areas the conditions that need to be met towards the Czech Republic?s accession to the EU are described, along with the different levels and stages of preparedness and the situation in the negotiation process as of March 2000, including further convergence requirements towards realizing Czech EU membership.
Volume (Year): 50 (2000)
Issue (Month): 6 (June)
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