SELECTED IMPLICATIONS OF THE CREATION OF THE BANKING UNION FOR THE ACCESSION OF POLAND INTO THE EUROZONE

• Authors: Piotr Szpunar
• Languages of publication: EN

Abstracts

EN

The last global financial crisis exposed a number of structural weaknesses of the eurozone which generated a great deal of additional costs as well as risks leading almost to its collapse. The creation of the Banking Union is hoped to strengthen the eurozone, however, it may not be enough, even when complemented with other reforms, to fully restore its effectiveness. Implementation of a common budget is necessary to enhance further integration of the euro area and to assure its financial stability. However, it seems that application of much less demanding tools of fiscal integration should be sufficient. A relatively small "insurance budget" would provide the definitive guarantee of bank deposits what would significantly reduce the risks for Poland when it joins the eurozone.

Keywords

EN

euro area; financial crisis; accession, financial stability; European integration

• Publisher: Wyższa Szkoła Finansów i Prawa w Bielsku-Białej
• Journal: Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej
• Year: 2016
• Issue: 1
• Pages: 34-62

Dates

published

2016-01-30

Contributors

author

Piotr Szpunar

• Economic Institute of the National Bank of Poland

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