Integracja rynków finansowych w strefie euro – stan i perspektywy
The present state and perspectives of the financial markets integration in the euro area

Summary/Abstract: An introduction of the common currrency and recent solutions limiting negative externalities of financial markets and improving supervision of this sector should lead to further development of the integration of the financial markets in the euro area. As a result, closer economic ties within the bloc and weakening relations with other countries can be expected. The aim of this paper is to verify these predictions for the period of 2004-2015. We analyse changes in financial market integration basing on the structure of transactions of monetary financial institutions and composite indicators of European Central Bank. No definite conclusion can be drawn whether participating in the third stage of the Economic and Monetary Union may result in deeper financial integration within the internal market.

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