Open AccessFinancial Integration in the Context of the European Union
Author(s) -
Ariunaa Damdinsuren
Publication year - 2021
Publication title -
the mongolian journal of international affairs
Language(s) - English
Resource type - Journals
eISSN - 2709-572X
pISSN - 1023-3741
DOI - 10.5564/mjia.v22i1.1767
Subject(s) - financial integration , european union , context (archaeology) , common currency , european integration , finance , business , economic integration , currency , financial regulation , financial services , international economics , international trade , economics , political science , financial market , macroeconomics , geography , archaeology
As the world continues to see various facets of financial integration, the topic has sparked a great deal of discussions among policymakers and economists. The article analyzes benefits and risks of financial integration in the context of the European Union, which has facilitated global financial integration immensely by creating common currency among European Monetary Union countries and harmonizing regulations across the region. Upon examining main pros and cons of financial integration in detail, I conclude that financial integration can be beneficial in the longrun if corrective and preventive measures are enforced to curtail risks and threats it poses.