The signs of the European Union financial destabilization during the global financial crisis

Economic Annals-XXI: Volume 131, Issue 7-8(1), Pages: 10-13

Citation information:
Shtuler, I. (2013). The signs of the European Union financial destabilization during the global financial crisis. Economic Annals-XXI, 7-8(1), 10-13. https://ea21journal.world/index.php/ea-v131-03/

Iryna Shtuler
PhD (Economics),
Associate Professor,
The National Academy of Management, Kyiv, Ukraine
shtuler.irina@yandex.ru

The signs of the European Union financial destabilization during the global financial crisis

Abstract. Introduction. The implementation of stabilization measures in the financial system is one of the main priorities of the economic policy of many countries. This is due to the act that financial stability contributes to the efficient allocation of resources, risk sharing and thus stimulates economic activity and improves the well-being of the country. The purpose of the article is to study the signs of financial destabilization in the economic development of the EU during the period of crisis which affected the EU countries. Results. Based on the analysis, the author concludes that a promising direction in the context of further expanding the «euro zone» could be a revitalization of direction aimed at the new free trade zones creation. Conclusion. Financial recovery of the EU is connected with its further expanding and a choice of future development vector. Ukraine is a part of such a vector for the EU. Despite substantial economic problems in the EU, Ukraine’s strategic course towards the European integration has to stay steady since this choice will help our country become stronger and gain new competitive advantages.

Keywords: Financial Market Instability; Financial Crisis; Monetary Policy; Crisis Management; International Experience; Free Trade Zones; Integration

JEL Classification: E42; E60; O19

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Received 18.06.2013