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succeeded in many areas. The euro was launched without serious problems and since then the European Central Bank has managed to … achieve a low inflation rate in the whole euro area. The European Union and the euro experienced the world economic crisis in … monetary policy and the euro area and also for the whole integration process. In our paper we will proceed from the Optimal …
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Entering a currency union without any political union European countries have taken a gamble: will the needs of the currency union force a political integration (as anticipated by Monnet) or will the tensions create a backlash, as suggested by Kaldor, Friedman and many others? We try to answer...
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