euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the …

no evidence of a euro effect on trade flows among early euro adopters up to the year 2002. Second, this finding is robust … to extending the sample period to incorporate data up to 2013, covering five additional euro accessions. Third, while … there is no robust evidence of a euro effect, there is evidence that intra-EU trade flows have expanded faster than the …

The euro area will not have a centralised budget and smoothing of country-specific asymmetric shocks via private …

In this paper, sound public finances under the euro means sustainability in the long term instead of short- and medium …-term fiscal discipline. The challenges to sustainability are identified for the four largest euro area member states, and several … resort for a euro area government under liquidity shortage to prevent it from developing into a general financial crisis …

the face of asymmetric shocks. Exit from the euro area is to regain rapidly international competitiveness. Exchange rate …