The economic crisis of 2008 had substantial impacts on the global economy. The European Monetary Union was affected as well, however, the economic impacts also stirred up political discussions concerning functioning of the European Union and its unity as divergence of economic means among the member countries intensified during the crisis. Inflation and real interest rate differentials have to substantial degree the ability to measure the divergence among the member countries of a monetary union. A number of empirical studies measuring the differentials in the Euro area were conducted since the start of the financial crisis in 2008. These studies show growing inflation and real interest rate differentials among the countries of the Euro area, argue that the European Monetary Union is becoming less stable and often question its future. This paper conducts similar empirical analysis; however, it differs from the above mentioned works of other authors by the larger time gap between the start of financial crisis and the time of conducting the analysis as it uses data until the year of 2013. This paper also contributes to current literature by the methodology it uses. The inflation and interest rate differentials in EMU are calculated by two methods and their results are subsequently compared, which has not been done before. The inflation and interest rate differentials are calculated for the USA as well in order to have an entity which can be considered as a hypothetical optimum currency area and to which the differentials of EMU could be compared. The results of the analysis in this paper will state whether the magnitude of inflation and interest rate differentials is too high and it will also either confirm the trend of divergence of inflation and real interest rates within the Euro area or show that this divergence is only a short-time period phenomenon of after-crisis years. As this is an important and very recent issue of European Monetary Union the results of this paper should form interesting contribution to current literature on this topic.

The thesis examines foreign currency (FX) loans in Hungary and tries to compare them to leverage investment strategy known as carry trade. FX loans in Hungary after 2003 enjoyed great development, but only until the outbreak of the global financial crisis in 2008, which fully revealed the negatives associated with this type of financing, which resulted in a threat to the stability of the whole financial sector in the country. This thesis describes the situation in Hungary and examines the consequences connected with mass development of FX loans. There is an analysis of the currency crisis in 2008 as a part of the thesis. At the same time, the thesis aims to analyze the causes that were behind the unusually rapid growth of FX loans. The factors are divided on the demand and supply motivated factors.

The global financial crisis of 2008, which forced the central banks around the world to defend a financial stability by using non-standard instruments such as quantitative easing, has resulted in, among other things, the fall of the interest rates to zero, and even to negative values in some countries, which has become the new normal in banking field. In this thesis, we focused on the Czech financial market, and we used the method of Monte Carlo simulation in the Vasicek model for the prediction of the future development of interest rates, both short and long maturities. The model shows that in the short term the rates may fall to negative values, but the prediction shows rising interest rates up to their own equilibrium. The 3-months and 6-months rates show surprisingly uncharacteristic behavior, where their long-term decline and higher volatility caused calculation of the equilibrium as a negative value in the Vasicek model. Than we apply the results in the model for calculating changes in the prices of bonds, which are negatively correlated with the interest rates, and we explore the repricing costs for the bondholders. Also, we will show that commercial banks may control the impact of the interest rate risk on capital by composition of financial assets in various categories, where the accounting classification of the instrument is critical to revaluation of the capital.

The thesis titled "Analysis of mandatory spending - debt service of the state" is essentially one of a series dealing with mandatory spending of the state, and that the cost of government debt. Individual chapters of the thesis deal in turn with the characteristics of the obligatory expenditures and factors that affect it. The penultimate chapter focuses on the specific quantification of these expenses in the period. The final chapter shows the evaluation of the state debt of the Czech Republic and the expenditure for the management of state debt. Level of expenditure on debt servicing in terms of gross domestic product, compared with western countries are significantly lower and not yet for the treasury risk factor. However, the absolute amount of the national debt over the last 6 years has doubled and the growth rate can be considered very disturbing.

The thesis analyzed the impacts of fiscal developments on the yield curve using quarterly data on the Czech economy over the period 2000:1 -- 2012:4. This thesis thoroughly reviewed the previous theoretical and empirical literature in order to sort out the rather inconclusive results of previous studies according to their main findings and implemented methodology. The empirical part consists of the estimation of the effects of budget deficits and government debt on the spread between the three-month and five-year interest rates, which closely reflects the effects of fiscal policy on the yield curve. The reduced-form equation was estimated by OLS. Since the estimated coefficients were not statistically significantly different from zero, this thesis did not confirm the conventional macroeconomic view of positive impacts on yields.

This thesis tries to describe government help to economy during the period of crisis in years 2006 -- 2013 in USA and Iceland with regard to Austrian business cycle theory. This thesis stands critical toward connection of fiscal and monetary policy and their activist policy because this policy was one of the causes of economical fluctuation in last years. Help of fiscal policy connected with monetary policy took primarily form of providing liquidity to financial sector and granting government guarantees to financial institutions and bailing out their risky assets. Regulatory measures are subjected to closer analysis and are commented according to data analysis.

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The final thesis is focused on type selection housing, financing this investment and suitability of the proposed. The interest rates on products that are used to invest in this activity are monitored. Interest rate developments are related to HDP development Czech republic.

The diploma thesis solves the optimization of operating funding for Sanexport, s. r. o. This theory closely specifies individual credit products on the financial market in the Czech republic, which are provided by banking and nonbanking providers. On a practical level the diploma evaluates current situation of operating funding of the company with focusing on criterion of cost. It contains suggestions of solution optimization of operating funding based on the analysis of the representative products banking and nonbanking institutions.

The aim of this thesis is to analyze financial statements and search the best way how to finance an investment intention. The theoretical part is focused on a characteristic of the investment opportunities, the sources of financing, the issues with a financial statement analysis and its indicators. The practical part analyses a specific company based on the financial statements which is followed by an investment intention. Its aim is to search the best option for the financing.