Convergence Process- Precondition For Ensuring Financial And Monetary Stability In Euro Area
In conditions of financial globalization, innovations’ development and a broad spectrum of risks’ amplification, between financial stability and monetary stability are created an interdependence relationship. Ensuring systemic financial-monetary stability has become a priority of the international economic agenda, particularly for candidate countries to the euro area. The purpose of this article is to highlight the importance of nominal and real convergence as a precondition for financial and monetary stability under Economic and Monetary Union (E.M.U.). Also, we made a comparative analysis of nominal convergence criteria on the example of Central and Eastern Europe countries during the period 2006-2010, stressing, finally, the need to revise the criteria for accession to the Euro zone.
Volume (Year): 11 (2011)
Issue (Month): 2(14) (December)
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