RELEVANCE OF THE OPTIMUM CURRENCY AREAS MODEL FOR THE PROCESS OF EUROPEAN MONETARY INTEGRATION WITHIN THE NEW CONTEXT OF CRISIS

Over the time, the Euro area proved to be an experimental region, an analytical model for the process of monetary integration, therefore a support for the development of the concept of optimum currency area. The global financial and economic crisis which started in 2007 and which changed the landscape of the European economic and momentary union may bring new observations regarding this concept and may strengthen or reformulate specific criteria, reason why we conducted this study.