F36 - Financial Aspects of Economic IntegrationReturn

The paper aimed to make an analysis of the euro adoption process of Romania and its path to the exchange rate mechanism (ERM II). The research was conducted from the perspective of the actions taken at European level for the third round of enlargement of the euro area, with its structural risks and challenges. In developing the research, both nominal and real convergence criteria were taken into account in order to outline the general achievements of monetary and fiscal policies, emphasizing the need to find an optimal timing to join the Eurozone considering the balance between costs and benefits. The analysis of the fulfillment of the Maastricht nominal criteria showed, in the past, the illusion of short-term monetary integration, but the evolutions of the last two years raise serious questions regarding the capacity of the Romanian economy to align with the European level of monetary integration and highlight the gaps between Romania and euro area. By comparison, the attitude of the citizens, although more temperate in the context of the COVID-19 pandemic and the perspective of a new economic crisis, showed an optimism which, unfortunately, is not supported by the capacity of the Romanian economy to meet the accession conditions.

Today, insurance companies are looking for new approaches to risk insurance so that the risk remains insurable and at the same time does not endanger the existence of the insurance company itself. Every risk must be evaluated by the insurance company as best as possible. Insurance companies have their own methodologies for assessing international risks, which show differences. Each insurance company tries to ascertain the most accurate quantitative and qualitative data in order to analyse the potential risk in depth. Evaluation is the basis for setting prices, country risk limits and, if necessary, has an impact on the specific definition of risk acceptance conditions. The aim of the article is to analyse and evaluate the methods and approaches of insurance companies on the basis of data obtained from databases of OECD and selected credit insurance companies. Further assess from the perspective of the exporter whether these methods are important in his deciding during the implementation of a specific business case. The result is the finding that the risk evaluations of insurance companies are beneficial for the exporter in terms of assessing the planned intention to export to the territory.

The aim of this paper is to assess with quantity indicators the extent to which credit markets in the Visegrad countries are integrated with euro zone countries. According to the role of foreign branches of credit institutions and the share of cross-border loans, integration of credit markets in the Visegrad countries is increasing. However, financial crisis has slowed the integration a bit. Especially during the crisis, information about creditworthiness of counterparties is highly important. Banks prefer to provide loans to domestic borrowers because better information is available about domestic counterparties.