example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It … periphery countries, but surely they will drive Euro Area as a whole to stagnation and lost decades of economic growth, if not … to its disintegration. Considering the debt crisis as a problem of the PIIGS (Portugal, Ireland, Italy, Greece, Spain …

To facilitate a more detailed study of the volume of euro banknotes in circulation issued by the Deutsche Bundesbank …, around 65% to 70% of the arithmetical volume of euro banknotes issued by the Bundesbank were in circulation outside Germany … at the end of 2015; of this figure, 40 to 50 percentage points were in circulation outside the euro area, and 20 to 30 …