<abstract xmlns="http://www.w3.org/1999/xhtml"><p>Economic interconnection among the European countries influenced the birth of a single economic space with a common monetary policy. In addition, the abolition of the gold standard represented an important external factor that followed the same path. In parallel with these processes, the conditions were created for developing a Eurocurrency market which favoured financial integration of Europe, as well as the creation of a single European currency. In accordance with such economic flows, Eurocurrency market emerged as a distinguished international financial market, crucial for the development of international banking. Thus, business entities were allowed to access the capital which represents the transfer of the international accumulation of the exporting country onto the European capital market, thereby resulting in more efficient financing of the member states. Thanks to similar economic effects, these processes of European monetary integrations have become imperative to other countries in the region.</p></abstract>

Economic interconnection among the European countries influenced the birth of a single economic space with a common monetary policy. In addition, the abolition of the gold standard represented an important external factor that followed the same path. In parallel with these processes, the conditions were created for developing a Eurocurrency market which favoured financial integration of Europe, as well as the creation of a single European currency. In accordance with such economic flows, Eurocurrency market emerged as a distinguished international financial market, crucial for the development of international banking. Thus, business entities were allowed to access the capital which represents the transfer of the international accumulation of the exporting country onto the European capital market, thereby resulting in more efficient financing of the member states. Thanks to similar economic effects, these processes of European monetary integrations have become imperative to other countries in the region.

European Monetary Integration as a Development Factor of Eurocurrency Market

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"European Monetary Integration as a Development Factor of Eurocurrency Market"}

Economic interconnection among the European countries influenced the birth of a single economic space with a common monetary policy. In addition, the abolition...

European Monetary Integration as a Development Factor of Eurocurrency Market

Publicado en línea: 18 feb 2017

Páginas: 57 - 74

DOI: https://doi.org/10.1515/eoik-2017-0004

Palabras clave
European Monetary Union, Eurocurrency Market, Banking, Credit Market, international capital market, banking standards, EURIBOR, LIBOR

© 2016 Predrag Ćurić et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

European Monetary Integration as a Development Factor of Eurocurrency Market

Publicado en línea: 18 feb 2017

Páginas: 57 - 74

DOI: https://doi.org/10.1515/eoik-2017-0004

Palabras claveEuropean Monetary Union, Eurocurrency Market, Banking, Credit Market, international capital market, banking standards, EURIBOR, LIBOR

© 2016 Predrag Ćurić et al., published by De Gruyter Open

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Palabras clave
European Monetary Union, Eurocurrency Market, Banking, Credit Market, international capital market, banking standards, EURIBOR, LIBOR