analyzes the price gap between Austria and its major trading partners Germany and Italy. Within the euro area (the 11 founder … members), price level convergence has been found to have occurred primarily in the run-up to the launch of euro banknotes and …-visual, photographic and information processing equipment, did price levels continue to converge across the euro area countries also after …

of the EU, as in the case of the UK and Denmark. The newly admitted Member States are obliged to introduce the euro as … exclusive competence for the monetary policy of the Member States whose currency is the euro on the EU, Article 3(1)(c) TFEU and … by bestowing the euro with the quality of legal tender, the only legal tender in the EU, Article 128(1) sentence 3 TFEU. …