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recent major crises, of the legal framework governing the European Economic and Monetary Union (EMU), as well as current … of the EMU.The following Section II (“The Impact of the Three Major Crises During the Period 2007-2021”) develops on how …
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EMU is based on several principles including independence of the Central Bank (ECB) which has as its main objective the …
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This paper reviews the factors that will determine the shape of financial markets under EMU. It argues that financial …
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No one seems to be neutral about the effects of EMU on the German economy. Roughly speaking, there are two camps: those … stability. From a broader macroeconomic perspective, however, it is clear that EMU is unlikely to cause directly any meaningful …
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Soon, euro area membership could more than double, with the vast majority of accession countries being quite different in economic terms compared with current members. Under the current decision-making system, this can lead to high decisionmaking costs and there is a risk that monetary policy...
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