EUROPEAN MONETARY INTEGRATION AS A DEVELOPMENT FACTOR OF EUROCURRENCY MARKET

Predrag  Ćurić; Dragan  Petrović; Rankica  Marelj

doi:10.1515/eoik-2017-0004

Authors

Predrag Ćurić NLB Razvojna banka a.d. Banja Luka, Bosnia and Herzegovina
Dragan Petrović Vrbas a.d. Laktaši, Bosnia and Herzegovina
Rankica Marelj Mlijekoprodukt d.o.o. Kozarska Dubica, Bosnia and Herzegovina

DOI:

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

Keywords:

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

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.

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