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EN
The author shows that the weakness of the EU economic units results not only from treaty provisions, but also from the staffing of the most important EU positions. According to the author, there are two centers which compete for the title of the European leadership. One is the political leaders who stand at the forefront of the EU (the leadership of the European Council and the High Representative of the Union for Foreign Affairs and Security Policy as well as European Commission Leadership). The other center is associated with financial leadership in Europe, headed by the political leaders of Germany and France. When looking for the causes of difficulty in creating European leadership, the author first of all points to the lack of the EU’s own identity.
PL
Artykuł podejmuje kwestię roli pieniądza we współczesnej gospodarce. Proponuje redefinicję tego pojęcia i zdefiniowanie go jak „prawa do nabywania dóbr i usług”. Ten sposób rozumienia pieniądza pozwala lepiej zrozumieć jego funkcje w gospodarce i prowadzi do ważnych wniosków. Autor pokazuje mechanizm kreacji pieniądza w procesach realizacji funkcji pośrednictwa w systemie bankowym i rolę banku centralnego oraz związków z zagranicą ukazywanych w bilansie płatniczym. Opisuje kształtowanie agregatu pieniężnego i dowodzi, że kryzys współczesnego pieniądza w jego funkcjach ekonomicznych ma swe źródła w kryzysach instytucji współczesnego systemu finansowego.
EN
The paper deals with an issue of a role of money in a modern economy. It proposes a new definition of this term and specifies it as “rights to buy goods and services’. Such a way to under-stand money allows to better understand its functions in the economy and leads to important con-clusions. The author shows mechanism of money creation in processes of intermediation in a banking system and discusses a role of a central bank and international relationships reflected in a balance of payments. He describes creation of money aggregates and argues that crisis of modern money in its economic functions results from crises of institutions of the modern financial system.
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