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Aspects Of The Euro Area Financial System Fragmentation

Author

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  • ALINICA, Alina Georgeta

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

With the emergence of the global financial and economic crisis, a number of side effects have been felt both in the U.S. and especially within Europe, particularly in the euro area. Among those, it stands out the financial-banking market fragmentation issue, a phenomenon discussed and analysed by financial experts, analysts, researchers and political leaders. The term fragmentation can be seen in antithesis with the concept of integration, the presence of one not involving the entirely cancellation of the existence and the effects of the second. However, a reduction in the effects of fragmentation may contribute to the increase of the economic and monetary integration, which is the desired facet for a fully functional European Union (EU). Moreover, in order to create a viable Economic and Monetary Union (EMU), it is essential to reverse the phenomenon of fragmentation of financial markets and restore the path of European integration. Thus, this article proposes to follow the conduct of the phenomenon of fragmentation in the euro area in order to develop some measures which would allow the diminishing of its negative effects.

Suggested Citation

  • ALINICA, Alina Georgeta, 2014. "Aspects Of The Euro Area Financial System Fragmentation," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 18(1), pages 28-40.
  • Handle: RePEc:vls:finstu:v:18:y:2014:i:1:p:28-40
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    More about this item

    Keywords

    effects of the global financial and economic crisis; EMU; integration; fragmentation; financial system;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • F15 - International Economics - - Trade - - - Economic Integration
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation

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