As stated in the preamble of the founding Treaty of the European Economic Community (EEC) of 1957, the essential goal of European integration, is to improve the living and employment situation (usually measured in terms of per-capita GDP and unemployment rate) of EU citizens. From an economic...

Since the beginning of the decade, numerous economic and monetary unification projects have aroused a lot of interest. The reinforcement of economic and monetary integration, especially in Europe, has set a trend for the creation of a monetary union in many others regions of the world. Since...

In the context of the theory of the optimum currency areas, Frankel and Rose [1998] have proposed the endogeneity thesis of the optimality criteria which they demonstrate by highlighting a significantly positive relation between business cycles synchronization and trade intensity of the monetary...

After the beginning of the euro area, countries in its periphery engaged in weighty borrowing from foreign private investors, allowing domestic spending to outpace incomes. Now, these countries face debt crises reflecting a loss of creditor confidence in the sustainability of their finances from...

The article summarizes research results about global conflict from the main research publications and focuses them on the trajectory of the European Union, which, according to the author, will unfortunately embark on a terra ferma concept and which will embark on a strategy of global challenge...

Behind the War on Terror: Western Secret Strategy and the Struggle for Iraq by: Nafeez Mosaddeq Ahmed Manufacturer: Clairview Books Release Date: 23 June, 2003 Media: Paperback Sales Rank: 3,781 This afterword to this brilliant book starts from the assumption that both Europe and the Arab world...

This paper aims to review existing literature on the endogenous effects of monetary integration: whether sharing a single currency may set in motion forces bringing countries closer together. The first part is a review of significant paper in the vast literature on the endogeneity of optimum...

Currency crises and financial instability in the 1990s have increased the needs of regional cooperation, hence leading to the proposition of optimal currency area (OCA). But only if shocks are symmetric, the cost of relinquish the flexible monetary policy is to be outweighed by the benefits of...

The article is focused on value added tax harmonization. It summarizes theoretical basis of harmonization process, refers to basic law. It also analyzes a real level of value added tax harmonization in the European Union and compares development in member states. In the beginning of year 2009...

In a monetary union, fiscal transfers are an important policy tool to adjust to asymmetric shocks. However, fiscal transfers cannot substitute structural reforms especially when shocks are permanent. In this way, the design of fiscal transfer systems determine whether structural reforms or...