The creation of the euro and the European Central Bank is a remarkable and unprecedented event in economic and … cyclical and inflation conditions vary substantially among countries. Labor market policies during this first year will … some advocate the euro despite its economic problems because of its assumed favorable effects on European political …

conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty … bilateral currency conversion factors implied by the 1 January 1999 choices equal closing" market exchange rates on 31 December … Euro. " Unfortunately, most of these have potentially damaging side effects. One approach official Stage 2 offers of …

product market. The adoption of the Euro does not seem to have accelerated labor market reforms in the "primary labor market …This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms … theoretical arguments that may link the adoption of the Euro and structural reforms, we investigate the empirical evidence. We …

but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits … analyze the geography of international debt flows using multiple data sources and provide evidence that after the euro … euro area …

provision of lender of last resort facilities in the euro zone and the framework for supervising financial institutions. The … Growth Pact have been justified by the threat high debts might pose to the stability of the euro zone's financial markets. I …

, which is closer to European than the US is in its labor market and fiscal institutions. Europe's (and to some extent Canada … an alternative strategy based on a relaxed stability pact, further strictures against central EU borrowing, labor market …