*The European Union will enter Stage Three of Economic and Monetary Union (EMU) in 1999. The development of euro … financial markets and thickness externalities in the use of the euro as means of payment will be the major factors determining … the importance of the euro as an international currency. As euro securities markets become deeper and more liquid and …

interaction between globalisation and regional integration. This paper discusses the internationalisation of the euro and draws …Europe's contribution to the international financial system is a new currency, the euro. Economic and Monetary Union in …