Acta Universitatis Danubius. Œconomica, Vol 3, No 1 (2007)

Abstract

Globalization, as a contemporary source of the capabilities and risks, is a reflecting theme for every domain of environment and research. In the new economy, financial globalization, which already has an appreciable record of manifestations, is a phenomenon with deep consequences on the mechanism of the world economical activities. A hierarchical order of rules and responsibilities together with the profound manifestations are the coordinates of our contemporary existence and they represent the base of systemic risks. Hence, the implementation of Basel standards is controversy; it may represent a competitive advantage including Romanian banks as Romania is now a European country.