Financial and monetary integration in the financial crisis period : Interest rates gaps in the public debt as measurement of country risks

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Abstract

The paper presents the European financial market convergence progress evolution and the effects that, on the financial integration the crisis has done. The main topic studied is the relevance of beta coefficient designed by the European Central Bank. The differential evolution of the integration of the sovereign bond market and the performance of the debt spreads as risk indicators has appeared in a strong version in the present environment. The crisis period goes to the financial divergence in the EU.