When the European Union introduced a common currency, this was based on the assumption that there would be increasing economic convergence of the participating states. These expectations were not met. Instead of gradually converging, the economic performance of euro area countries has noticeably...

The inquiry into the global significance of the euro, which is the second most important currency in the international financial system after the US dollar (hereinafter, the dollar), should be treated as a priority in efforts to strengthen the EU's strategic autonomy. The main obstacles impeding...