6. Financial Intermediation in Modern Europe Time: Evidence from Romania

In a world governed by complex financial and economic systems, knowing the process of financial intermediation becomes a must. We face times when the process of financial intermediation seems to change nearly as a natural phenomenon. Financial intermediation stakeholders find constantly new ways to interact on behalf of obtaining funds they need and returns they expect and manage risks they try to avoid. The article’s aim is to take a snapshot of a financial intermediation process that manifests in Europe Modern Era, specifically in one EU member like Romania, in contrast with other two EU member – Bulgaria and Croatia. In the same time, we also outline the relation between financial development and economic development, mostly after EU accession. In terms of Romania’s financial intermediation, we confirm that the banking sector represents the main component of financial system and that bank credit represents the most important financing channel for nonfinancial sector, denominated, mostly in national currency. Despite all that, Romania’s EU accession has led to a constant changing in financial structure, with more active nonbanking financial intermediaries.