JIRÁNKOVÁ, Martina; HNÁT, Pavel - In: Eastern Journal of European Studies 3(1) (2012) June, pp. 67-86
The article aims at analysing the current situation in the Euro area with respect to the balance of payments adjustment … mechanism that should normally be at place. Internally, the Euro area membership represents a combination of the fixed exchange … rate, capital mobility and no monetary policy autonomy; externally, the Euro area countries apply floating exchange rates …