Such an exceptional event as the creation of the EMU and the euro has not had happened never before. The most common … challenges concerning EMU and the euro are: fiscal policy making, monetary policy making, euro area being a non-optimal currency … area and the political legitimacy of EMU. It is worthwhile stressing that economic policies – except from monetary policy …

enlargement of the eurozone depends on these institutions and, thus, increases the costs of failure. On the other hand, a … that monetary integration is not a stand alone project, but is preceded by the EU enlargement and its obligation to adopt … highly desired process, given that everything works out smoothly. The future eurozone will show a much higher degree of …

enlargement of the eurozone depends on these institutions and, thus, increases the costs of failure. On the other hand, a … that monetary integration is not a stand alone project, but is preceded by the EU enlargement and its obligation to adopt … highly desired process, given that everything works out smoothly. The future eurozone will show a much higher degree of …

states of financial resources and leading to crisis. A prudent treatment of these flows requires a developed capital market … in the Central and Eastern European Countries (CEEC). The euro has fostered the transformation of financial systems … active and open-market stance is required. The euro increases the cost of failure and thus provides a strong incentive to …

Malta and Cyprus but without Bulgaria and Romania, somewhat around 2004 or shortly after. Though it might be favourable to … decision-making process and probably opt for a more convenient—ie, expansionary—monetary policy. Whether or not they will get … institutions. Foreign entry has improved market efficiency and further progress can be expected. The question whether or not …

Such an exceptional event as the creation of the EMU and the euro has not had happened never before. The most common … challenges concerning EMU and the euro are: fiscal policy making, monetary policy making, euro area being a non-optimal currency … area and the political legitimacy of EMU. It is worthwhile stressing that economic policies except from monetary policy are …

convergence between prospective and current members of European Monetary Union (EMU). However, this institutional arrangement and … of convergence between prospective and current members of EMU. In return, accession countries would offer to maintain …-rate regimes at risk, thus possibly undermining the according public support. This paper delineates the basic assumptions and …

convergence between prospective and current members of European Monetary Union (EMU). However, this institutional arrangement and … of convergence between prospective and current members of EMU. In return, accession countries would offer to maintain …-rate regimes at risk, thus possibly undermining the according public support. This paper delineates the basic assumptions and …