External financial security of the european union member states outside the Eurozone

Abstract

The article presents the characteristics of external financial security threats for the European Union Member States outside the Eurozone. Basing on the analysis of the key balance of payments accounts and several proposed financial security indicators, a ranking of the analyzed economies is suggested here. It is based on the Financial Security Index, which uses linear alignment methods. The research presented in this study proves that among the EU Member States outside the Eurozone, new members have been so far maintaining the parameters, considered in the synthetic measure, at a higher level as compared to the older members of the Union.