INTERNATIONAL FINANCIAL CRISIS – IMPLICATIONS FOR REGULATORY ENVIRONMENT AND FINANCIAL MARKETS INTEGRATION IN THE EUROPEAN UNION
DOI:
https://doi.org/10.12775/EiP.2012.022Abstract
International financial crisis of the recent years has discovered weaknesses in the international financial architecture, including in particular the inadequacy of prudential regulations, also in the European Union. The collapse of financial markets influenced negatively the indicators of financial integration in the Euro zone countries and other EU member states. This is also due to the fact, that cross-border activity has suffered more during the crisis. The financial system reform measures taken by the authorities of the European Union's are an ambitious plan for the coming years and their implementation should improve the conditions in the financial markets and foster financial integration process, which is necessary for the proper functioning of the European economy.
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