UDC 336.132.2
Biblid: 0025-8555, 62(2010)
Vol. 62, No 4, pp. 585-601
DOI: https://doi.org/10.2298/MEDJP1004585P

Оriginal article
Received: 15 Oct 2010
Accepted: 15 Nov 2010

FINANCIAL CRISIS AND FORMING OF THE EUROPEAN MONETARY FUND – SHOULD THE EUROPEAN AGREEMENT BE CHANGED –

PETROVIĆ Pero (Prof. dr Pero Petrović, naučni savetnik, Institut za međunarodnu politiku i privredu, Beograd, Makedonska 25.), pera@diplomacy.bg.rs
ŽIVKOVIĆ Aleksandar (Prof. dr Aleksandar Živković, Ekonomski fakultet, Beograd), acazivne@yubc.net

In this paper, the authors analyze the possibilities and advantages of realization of the idea of creating the European Monetary Fund, the European equivalent of the IMF. European officials and experts believe that the financial crisis in the European Union, as was the case in Greece, can be successfully solved within the EU institutions. The assistance that the EMF would provide would be stipulated by fulfilment of strict conditions. The ECB, which insists on independence, would join it in establishing this mechanism, since not any has been created so far that would provide financial assistance to members of the Eurozone.

Keywords: European Agreement, changes, crises, European monetary fund, the financial architecture