POSTCRISIS FINANCIAL MANAGEMENT OF THE EUROPEAN UNION

Abstract

The current financial crisis highlighted the importance of establishing a banking union at EU level, which would allow for an adequate response to the financial problems through the regional banking supervision in relation to the operations of banks in the Eurozone. The main results of this research shall in a synthetic way show that the formation of a banking union significantly contributes to strengthening of the integration of economies of the member countries and the promotion of confidence in the EU banking sector stability, but without clear goals and objectives to be achieved in the real sector of the EU, which should provide, in addition to safer, a richer life, higher employment and exit from the stagnant framework. The paper analyzes the importance of the transition to a system of decision making on financial, fiscal and economic policies at the EU level. This system would allow an adequate response to the financial problems through regional banking supervision in relation to the operations of banks in the Eurozone. This would establish stronger accountability mechanism of the decisions taken. The ultimate goal would be the stability of the banking sector, improvement of business conditions in the real sector and the economic stability of the Eurozone.