project. This is particularly true as finance in continental Europe is traditionally bank-dominated. The creation of a single … currency on the degree of integration between the potential retail interest rate markets in the Euro area. Given the non … to January 2004 as well as on the pre- and post-Euro sub-periods …

Should we blame the euro for widening of current account deficits in the EMU? In this paper, we employ time … of the euro. Our aim is to assess to what extent the increased current account deficits could be attributed to the single … currency and to the role of other variables, especially fiscal policy and developments of financial sector. We show that euro …

of largely only recently developed methods we provide an assessment of indicators of financial stability within the Euro … institutional roof - banks or non-bank (shadow) banks - under which they are conducted. Our results reveal a declining role of banks … (and a commensurate increase in non-bank banking). These structural shifts (between institutions) are coincident with …