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The former polarization of financial theorists regarding the importance of money is characteristic more than a decade confrontation monetarist and Keynesians, theirs long - term debate and opposition thesis " money it's not important " and " just is Money important ", The last two decades of the twentieth century are characteristic of the official common house thesis that " money it is important " The justification for the need for a theoretical analysis in this work and today is found in the fact that contemporary macroeconomic theory recognizes the end of radical anti-Keynesianism and at the same time the end of the intellectual monopoly of the dominant neoliberal doctrine that logically relies on and/or emerges from it, namely monetarism and all later theoretical derivatives. On the other hand, the goal of this work is not to reach the possibility of formulating new theoretical propositions, but rather to review the conflicting positions of representatives of different doctrines in financial theory to see current problems and controversies, and possibly still unresolved dilemmas, both in financial theory and in the management of monetary policy. and fiscal policies. in the world and here too.

Modern banks have a specific role and a whole range of functions of paramount importance, as financial institutions for granting loans, creating loans, mobilizing savings and economic development. In the financial sector, there is a growing number of people who are using increasingly innovative and creative ways of targeting all perceived weaknesses in banks and credit approval systems. The persons committing fraud have become increasingly sophisticated, which means that measures to prevent fraud must be constantly developed to ensure that they are able to deal with the threat. The fight against fraud is crucial for financial services institutions. This article aims not only to briefly describe the role of internal control and internal audit in detecting possible fraud in banks, as profit-oriented organizations in today's complex and highly changing business environment, but also to point out the advantages they have in the more efficient management of bank activities.

The debt crisis in the European Union is known to be caused by the interdependence of banking and state financial stability, and, together with the non-existence of the fiscal union, it has taken on the existential dimensions of the EU project itself. Under the guise of financial fragmentation within the financial markets of the Eurozone, and from the aspect of the outbreak of the crisis, EU member states resorted to national interventions, thus closing national banking and financial markets, which ultimately resulted in deepened and stronger structural foundation of the crisis and its economic and financial consequences. In that context, the Banking Union is the regulatory and institutional response of the EU after the global financial crisis, about which the first proposals have found a place in institutional controversies since 2012. In addition to the key moment and motive for establishing such an institutional regulatory arrangement, the reason for its creation is more to create a union that is connected with the creation of a single market for financial services and free money circulation, and certainly with the tendency of fuller monetary integration. However, certain questions which arose remained relevant to date: whether these established and instrumentalized frameworks, mechanisms and procedures are in fact sufficient; whether the EU banking union, conceptually designed, really represents banking integration; and whether the "centralized-common" and "sovereign-national" relationships continued in the EU financial architecture, the use of the principle "one measure for all" in the implementation of the Basel III, non-inclusion of all types of banks, and the conflict of emission and supervisory roles of the Central Bank, be a structural conflict in achieving the desired financial stability, which is the ultimate goal. In the broader context of the functioning of the EU, financial stability can also be interpreted as a factor in the survival of the common currency and the European Union itself, regardless of the intertwined contradictions and construction conflict. In this paper, we analyze the functional scope of the regulatory framework for banking supervision in the EU during the five-year existence to date, and finally the effects and impact that this framework has had on the regulatory adjustment of the Serbian banking sector.

Modern countries are characterized by budget deficits that can create significant problems if they are present in the long run. The aim of these countries is to reduce these deficits to the lowest possible level or, ultimately, their complete elimination. Increasing public expenditures, on the one hand, accompanied by a reduction in fiscal revenues on the other, has, as a result, triggered some of the forms of nonfiscal resources. Unemployment is a very challenging problem for modern countries, so it takes a significant place in terms of budget spending. For this reason it is imperative to emphasize the policy of stimulating investment, which is the case in the countries of the European Union.

The digital revolution touches upon every aspect of our life, and accordingly has not circumvented the monetary realm. Three attributes of modern money are still tied to the power of state. First, the state prescribes what should be used as legal tender within its borders. Second, the state keeps for itself the exclusive right of issuing money. Thirdly, it is imposed as the sole regulator of money circulation in the country. Digitization threatens to shatter these postulates of contemporary monetary system. The first decade of XXI century was marked by the electronic money and the second is characterized by digital currency. This paper deals with the repercussions of new technologies on the monetary system, compares the characteristics of official and digital currency, explains the blockchain technology that lies at the heart of all digital currencies and shows its potential applications in other areas. The paper concludes that digital currencies do not possess all that is necessary to take over the primacy role from the national currencies. However, digitized reality is reflected in the digital currency, which raises broader social cognitive changes with regard to the phenomenon of money.

Central Bank takes set of several measures in situations where traditional instruments of monetary policy have no significant impact on macroeconomic aggregates. This happens when the benchmark rate reaches the lowest possible level. Since the beginning of 2015 we have witnessed the intense media coverage of economic developments, particularly in the monetary sphere, in the domain of the eurozone but also in the total area of the European Union. Here comes to injecting money into the financial system with new euro emissions, followed by lowering interest rates, that leads to policy of 'cheap money'. The world has changed too much that dollar or euro could be the main foundation of global finance. On the other hand, the post-crisis world requires a new architecture of the monetary base: instead of a single currency, foundation should be 'ancient money' in the form of gold. Money is not just an economic phenomenon, but the total social fact, which influences the life of almost all people.

The main charasteristic of the European economy over the past few decades was the increase of integration process between countries, which was often called process of globalization. This has occurred in two directions: through trade of goods and services, as well as international mobility of capital, and through production or creating new value added within international production system of transnational companies. Activities of transnational companies - as traders, investors, bearers of technology transfer and causers of mobility of people - have the very qualitative impact on European economy, within the wider process of globalization. Transition countries, especially those from Central Europe, attracted the significant inflow of foreign direct investments, so it is useful to discuss about the impact of FDI on transformation process of these countries from central-planned to market oriented economies. For that reason, the purpose of this article is to show what is the role of transnational corporations in restructuring transition economies and changing their export's structures, so it can be possible to use some solutions and experiences in the domestic economy.