Revista de Economie Mondiala/ Journal of Global Economics

20-35

Authors: Petre Prisecaru

Asset quality analysis and stress tests were prior activities before beginning effective supervision of large EU banks starting with November, 2014 within the banking union of EU. In this article I propose four major objectives. Firstly, I review the results of stress tests conducted by the European Central Bank (ECB) with the assistance of the European Banking Authority, this representing the beginning of a complex process for building a strong banking union. Secondly, I highlight the results of stress test exercises conducted by ECB and National Bank of Romania (NBR) in the domestic banking sector. Thirdly, based on the directives and regulations already adopted, I explain the three pillars of the banking union: single supervisory mechanism, single resolution mechanism and harmonization of national deposit insurance systems. Finally, I emphasize that our country is already on the way of entering the banking union, which is supported by the NBR and the Romanian Banking Association (RBA), given the high degree of integration of Romanian banking sector into the European one and the prospects for adopting the single currency, the euro.

48-63

Authors: Ionela Bălțătescu

The article covers a short overview of EU-USA trade agreement: (a) the main advocates of the treaty and also the main lobby groups involved in the negotiation of the EU-USA trade agreement; (c) the estimated economic impact of signing the EU-USA trade agreement, according to most important studies that assess the benefits and risks of signing the treaty (e.g. studies realized by the Centre for Economic Policy Research CEPR, Centre for Prospective Studies and International Information CEPII, Bertelsmann Foundation etc.); (b) the key issues approached during the negotiation process; (d) geostrategic implications; (e) criticisms and pros and cons according to economic analysts, non-governmental organizations (NGOs), lobby groups and other types of organizations.

74-86

Authors: Eduard Marinov

The process of political integration in Africa is progressing slowly, even though it was a priority stated by the African leaders ever since the early days of independence in the mid-20th century. In the field of economic integration, which has a much shorter history, the achievements, albeit insufficient compared to the stated objectives, are significantly more. The paper discusses the historic development of the ideas of regional integration in Africa and their implementation, presenting the defined by the author five phases in the integration process. Special attention is paid on the multi-layer approach towards economic integration adopted for the creation of the African economic community.