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CONVERGENCE PROCESS- PRECONDITION FOR ENSURING FINANCIAL AND

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Author(s): Anca Elena NUCU

Journal: Annals of the Stefan cel Mare University of Suceava : Fascicle of the Faculty of Economics and Public Administration
ISSN 2066-575X

Volume: 11;
Issue: 2(14);
Start page: 225;
Date: 2011;
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Keywords: financial stability | monetary stability | convergence criteria | economic and monetary union

ABSTRACT
In conditions of financial globalization, innovations’ development and a broad spectrum of risks’amplification, between financial stability and monetary stability are created an interdependence relationship. Ensuringsystemic financial-monetary stability has become a priority of the international economic agenda, particularly forcandidate countries to the euro area. The purpose of this article is to highlight the importance of nominal and realconvergence as a precondition for financial and monetary stability under Economic and Monetary Union (E.M.U.).Also, we made a comparative analysis of nominal convergence criteria on the example of Central and Eastern Europecountries during the period 2006-2010, stressing, finally, the need to revise the criteria for accession to the Euro zone.
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