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The diploma thesis is devoted to explanation of Czech position towards European monetary integration. Even though Czechia is committed to adopt euro, the official term has not been set. The main purpose of a thesis is to answer why the Czech Republic postponed entrance into to eurozone indefinitely. The first chapter applies materialistic aspects of liberal intergovernmentalist theory into the Czech context by analysing economic interests on micro and macro level. Detailed cost-benefit analysis results in a slight favour of entrance. However, valid economic arguments on both sides and lack of interest group pressure allow government to adopt waiting strategy. Second analytical part incorporates constructivist theory, particularly defines Czech national identity and its effect on public opinion on eurozone. The thesis refuses exclusive character of the Czech identity and its ability to fully explain postponement of euro adoption. Thesis main contribution to international relation research is final chapter, which extends traditional integration theories by perspective of ideology. Ideological prism seems to present the most eloquent explanation of the Czech position, especially dominance of firstly the Eurosceptic ODS and then populist party ANO, as well as conservative stance of CNB. Despite the fact that...

The introduction of negative interest rates, as an additional tool of unconventional monetary policy in recent years, leads to many, yet largely polarized debates about the implications of the unconventional monetary policy of central banks. The main reason for their introduction in some economies, namely the threat of deflation, is also questioned, as well as the negative side effects of this instrument on financial stability and economic growth, and finally, their limited scope is under scrutiny. Due to the still insufficient research in this field, the aim of the diploma thesis is to evaluate the concerns and the main long-term risks and impacts of the monetary policy using negative interest rates in the context of deflation threats. The analysis of available data confirms both the concerns about the negative effects of negative interest rates on the banking sector, the recovery process of public finances, the possible rise of a price bubble on the financial markets and real estate markets, or on the possibility of excessive risk taking, and on the other hand draws attention to the direct dependence between negative impacts and the duration of monetary policy using negative interest rates.

The bachelor thesis treats the synchronization of the business cycle of Slovakia and the eurozone through the industrial production between the years 1999-2014. The aim of the thesis is to verify or to falsify the hypothesis whether there is a synchronization of the business cycles of chosen economies and subsequently characterize this synchronization. The thesis is divided into several parts that intersect themselves. The first one summarizes the actual state of knowledge in the area of the economic cycles. The second chapter offers summary analysis of the respective phases of the business cycle that the Slovak republic and the eurozone noted in their modern history. In the next part the mutual synchronization is empirically evaluated by the correlation coefficient of the cyclical component of time series of the industrial production index of the two selected economies and then the time series are divided into three periods which record the development of the synchronization of the cyclic fluctuations in time. Related to this, the delays of the Slovak economic cycle are tested in comparison with the European cycle. To check the synchronization, the suitable vector autoregressive model is selected and confirms the defined hypothesis and shows that not only does the Slovak economic cycle depend on the economic cycle of the eurozone, but it is developing in the same way and the Slovak economy is adjusting to the European one. At the end of the thesis the theoretical and simulated outputs are summed up in the short discussion.

The aim of this thesis is to determine the relations between the global finance and economic crisis and the crisis in Greece. Thesis analyzes impacts of the global economic crisis on the Greek economy. The work is divided into three chapters. The first part focuses on the assessment of the selected macroeconomic indicators in the period before the crisis and the causes of the crisis. The second part discusses the development of crisis itself, taken measures and reforms and compares the results of rescuing packages with other selected countries. This chapter concerns also macroeconomic factors that were most affected by the crisis. Third section examines possible solutions and outcomes of the current economic crisis and examines the forecasts for the future.

Multi-speed European Union is a very up-to-date topic especially in terms of the finance and debt crisis, which deepened the differences between member states' economies. Multi-speed integration is one of the ways how to satisfy the claims of all member states, respect their different socioeconomic conditions and interests and at the same time not to disturb the integration process. The objective of this thesis is to introduce the concept of multi-speed integration from different theoretical points of view, to outline its historical development and assess its positive and negative impacts on the EU as a whole and on Slovakia. The analysis of impacts of the Economic and Monetary Union's multi-speed character on Slovakia is the key part of this thesis. These impacts on Slovakia are both positive and negative, but some of them cannot be categorized in general. In the aggregate the positive impacts prevail.

The bachelor thesis deals with causes of excessive public debt and searches for reasons of outbreak of sovereign debt crisis in Greece. The first chapter explains terms as of public debt and deficit which are crucial for purpose of this thesis. The second chapter contains political -- economic development from Second world war to entry to Eurozone and subsequent revision of Greek statistical data in 2004. The last chapter describes causes of excessive public debt, reasons of outbreak of sovereign debt crisis and emergency measurements which were supposed to reverse the negative situation in the country. The end of the third chapter is complemented with forecast of feasible development in Greece and whole Eurozone.

The Bachelor's thesis deals with the European Union, especially with European monetary union, and explains legal framework of monetary stability in the monetary union with regard to the Denmark, the nation with statutory exceptions. The aim od this thesis is to provide potential readers with information about the attitude of Denmark to unified monetary integration. The first chapter is dedicated to the history of the European monetary union, it's evolution and legal basis of monetary integration. The second chapter explains the European System of Central Banks and the European Central Bank. The last chapter describes position of the Denmark in the EU from view of history and political cooperation between nation policy and it's population, with focus on the Euro Area.

Thesis analyzes different indicators of competitiveness in period before and after adopting of euro in Slovakia. First chapter contains theoretical background, defines competitiveness and methods of its measuring. Second chapter analyzes development of macroeconomic indicators such as GDP, inflation, government debt and deficit. Aim od third chapter is to evaluate competitiveness of Slovakia, using different competitiveness reports and this chapter also contains analysis of unit labor costs, labor productivity and real effective exchange rate. Fourth chapter is analyzing different exchange rate regimes and compares impact of financial crisis on Slovak and Czech economy due to the fact, that countries had different exchange rate regimes in this period.

This diploma thesis describes the formation of The European monetary union, financial situation of the member countries before the start of the debt crisis in eurozone. The thesis focuses on the PIIGS countries, which includes Portugal, Ireland, Italy, Greece and Spain. Consequently it deals with the course of the debt crises, the financial support provided to PIIGS countries and possibilities of the future development of the EU, respectively eurozone.

The bureaucratic structures of European Union, Eurozone etc.; deal with the issue of monetary integration these days. This point was achieved, because of the beginning of debt crisis, which has erupted in 2009. In this thesis is a clear explanation of monetary integration in general, hers costs and benefits and also historical development within the framework of monetary union in Europe. The emphasis is placed on creation reasons of debt crisis, with detailed description and interpretation of the global imbalances principle, applied on Eurozone members. In the part discussing global imbalances are stated PIIGS states and their main task within the framework of debt crisis. The most important part is the part, noticing the concrete steps in European integration deepening such as formation of stability mechanisms -- EFSM, EFSF, ESM; continues to preparation of formation named as bank union; introduction of financial transaction tax etc. The might and theoretical solutions, like Eurobonds or disintegration of Eurozone, are also included. The last paragraph sums up impact of debt crisis on integration processes.

This thesis deals with an in-depth analysis of the position and the influence of the European Union within the world economy, as well as within the global economic-political scene. The work is divided into 3 chapters. On the basis of showing the economic development of the European region from the end of the 19th century till present, the first chapter provides an account of the changes that its economy had to face. The following comparison between the present EU-27 and other economic centers provides a complex image of its actual position in the world economy. The second chapter deals with current economic problems that the EU currently has to face and that have impact on its functioning in world. In its last part, the work analyses the importance of the EU in an economic-political context with the example of its position in the International Monetary Fund as a typically international economic-political institution.

The task was to show on an example of Slovakia, which has accepted the euro, in comparison with V4 countries, which have kept their own currencies, that common currency does not necessarily bring only negatives. Current EMU problems don't come from the nature of euro but the key problem comes from the public finance and irresponsibility of politicians. On the base of this knowledge, the work suggests an alternative approach to solve debt crisis on the example of Greece, meaning a fiscal rent of Greek touristic islands. The work also deals with the vision of EMU in future to avoid this kind of problems and to change the overall approach to fiscal policy. I see a solution in monetary-fiscal union, which is based on the new fiscal rule derived from Okun's law and also on common supervision institution over national government budgets with the right to arbitrarily intervene in case of need.

This thesis focuses on the economic process of the European Union during last period, especially on impacts of financial crisis. The aim of the thesis is to evaluate the position of this integration in context of the crisis, mainly from view of macroeconomic and non-economic indicators. The final capture is devoted the most actual problems, mostly to the Eurozone crisis, but also opportunities and threats, which the EU is about to confront.

The work "Slovak Republic is joining Eurozone" describes the issues about Economic and Monetary Union in the Europe since its early beginnings till the entrance of Slovak Republic. First chapter refers to the story of European integration through most important historical steps leading to the European Union and further to Economic and Monetary union. Next chapter includes progress of Slovak Republic in joining the European Union and steps leading to membership in EMU. Finally the work is aimed at public opinion and impact of the euro before and after its adoption.

The diploma thesis focuses on the current economic problems of the eurozone, which are caused by the existence of independent monetary policy and seventeen fiscal policies. The theoretical part describes the complex relationship of fiscal and monetary policies as well as the optimum currency area criteria. The practical part analyzing monetary policy in terms of inflation, inflation differentials, development of the real effective exchange rate, credit expansion and the impact of low interest rates on the creation of housing bubbles. Analysis of fiscal policy focuses on the criteria of the Stability and Growth Pact in terms of the fiscal deficit and government debt development. At the end, the diploma thesis provides a brief description of the new fiscal agreement and the European Stability Mechanism treaty.

This thesis deals with the impats of the european souvereign-debt crisis. Furthermore it analysis the causes - from the global point of view as well as with regard to single countries. In addition measures to stop the crisis to spread are evaluated. Moreover future scenarios are presented.

This bachelor thesis deals particularly with disadvantages of membership in eurozone connected with present debt crisis. In the thesis are also shortly described advantages of membership. First charter describes creation of European Monetary Union, conditions that need to be fulfill in order to join the Union and also conditions that should be followed by members. Second charter is talking about the birth of Word crisis and it's outgrowth into the debt crisis in eurozone. It is also talking not only about the impacts on the member states of eurozone but also on all the member states of European Union. It contains also comparison of impacts on eurozone and impacts on USA, as the birthplace of world crisis. In this part are described reasons of creation of uncontrolled debt in southern states of eurozone. In third chapter are described safeguard measures adopted by eurozone in order to solve the crisis. This chapter is describing the help provided to the indebted countries and also the creation of safeguard mechanism. In the end of this chapter is outlined the vision of the future of eurozone.

This bachelor's thesis primarily deals with the analysis of the preparedness of the Czech Republic to adopt the single European currency called euro and the state of nominal and real criteria. Its aim is also to confirm or refute the concerns of this step and explain advantages and disadvantages of possible CR's membership in the eurozone. The thesis consists of seven chapters, which describe not only the euro link to the Czech economy, but also other aspects of the euro both in terms of historical evolution of this currency and the present problems and also experience of the Slovak Republic.

This bachelor thesis focuses on the question, whether the membership of Slovakia in eurozone is beneficial or not. It analyses, in which field of the economy has euro left the biggest impact and it calculates the contribution of the euro on Slovak people, companies and international trade. Adoption of euro is of course considered on the background of the world economy, which currently deals with the global financial crisis. The work also describes the formation, development and the current problems of euro. It answers the question, whether is for Slovakia beneficial to be the first country among the V4 group that adopted euro.

In this bachelor thesis is discused current relationship between Iceland and the European Union, which is at the moment affected by the economic crisis. The main objective of my thesis is to outline causes, process and impact of economic crisis to the economic and political situation of Iceland and analyze how the current crisis has affected the attitudes and the possibilities of Iceland to join the European Union and the eurozone. Emphasis is also placed on the assessment of feasibility, preparedness, convenience and the potential consequences of such action from the perspective of the pros and cons

Chosen thesis of evolution activity is very attractive for me from the view of forming the central bank as the independent financial institution of the country. In the theoretical part I will show definition of central bank and I will tell its general functions, aims and duties. Then I will discuss attitude of the central banks from the historical point of view and I will introduce the central banks in the world. In the analytical part I will describe the State bank of Czechoslovakia as base condition for founding NBS ( National bank of Slovakia ). I will examine for terms which led to its establishment, its organization system and changes in the field od activity. I will analyze changeovers in functions and aims which were caused in the action of new money Euro, introduced as new legal tender in the Slovak Republic. The aim of the thesis is to examine and result the most important changes of atributions of NBS during 20 years from setting market economy rules in the Slovak area until its incorporation into the European central bank.

The aim of bachelor work is to analyze and evaluate the entry of Slovak Republic to the Eurozone in the beginning of year 2009. Possible early entrance and the option of waiting for other states of Visegrad Four is what I will be interested in. In the theoretical part I will be talking about historical evolution of Economic and monetary union and nominal and real convergence criteria, which I analyze concerning The Theory of Optimum Currency Areas. In the second, practical part, I will put my mind to satisfying each real convergence criteria (from years 2004 to 2006) in the Slovakia and I will compare it with other states of European Union, especially with Visegrad Four. In the final part I will analyze pros and cons of adopting Euro in Slovakia.

The object of this thesis is the revision of the exchange rate mechanisms ERM II from the point of his effect on the Czech Republic's integration process. In this thesis, there are analyzed benefits and risks cussed by ERM II participation and inferred conclusions relevant for the Czech Republic. This thesis is moreover dealing with hypothetic run of the participation of Czech koruna in ERM II and its incidence on fulfillment of exchange rate criterion. Except that there are analyzed reasons for current negative attitude of Denmark, Great Britain and the Northern Ireland and Sweden to third period of the Economy and monetary union.