Villieu, Patrick; Gregoriadis, Nelly; Semenescu, Florina - HAL - 2006
It is widely recognized that the Euro area is an asymmetric monetary union which assembles countries with heterogeneous … Central Bank (ECB) is to preserve price stability for the euro area as a whole, and the ECB pays most of its attention to … union-wide output and (principally) inflation, neglecting, at least on the level of principles, inflation and output …