The European Union was created to promote economic, cultural, and regional prosperity. However, the Global Financial Crisis demonstrates that its economic institutions are flawed. While each sovereign state in the Eurozone forfeits the control of its money supply, the lack of a common fiscal...

The last three years have seen the dramatic transformation of the Polish banking system from a monobank that served primarily as an accounting system for the central plan to an increasingly dynamic system of independent commercial banks. Financing for productive enterprise, mortgages and...

Poland is one of the countries aspiring to the European Union. In order to join with EU it is required to meet the “convergence criteria†in accordance with the Maastricht treaty. Additionally the European Union is changing, too. It introduced new monetary policy, new...

The end of the nineties has brought many substantial changes on the world economic map. On the one hand, a considerable acceleration of globalization and integration process has taken place and the volume of transactions in financial markets increased enormously, whereas on the other hand,...