worse suitable for EMU membership than the current participants. The theory of optimum currency areas provides several … the current EMU we use a structural VAR approach in order to identify economic shocks that hit the countries to be …

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 … the (2007-2009) Global Financial Crisis (GFC), the subsequent fiscal crisis in the euro area and the most recent pandemic …

This paper argues that the inception of the euro itself, with its restrictive monetarist institutional structures, to … long term investors, and, indeed, post-"euphoric", short term speculators, to regard the euro area as structurally weaker … since January 1999. It is difficult to predict the fixture course of the euro; once portfolio investors have shifted fully …

To convince international financial investors of the high real value of the Euro, the EMU has established rules that … the context of a monetary production economy in which financial markets play a central role. It is argued that the Euro …

of the Czech Republic could possibly structurally differ more than the EMU member countries between each other. Then they … conclude that if the EMU is sustainable, the accession of the Czech economy should not change it. …

on 1 May 2004 into the euro area. Most NMS have undergone a rapid and deep transformation in all areas with considerable … the euro area in the process of labour market and institutional reform (their labour market structures are more flexible … than those of the euro area countries). There is also some evidence that a few NMS have a significant degree of business …

currency. It then discusses the EMU policy framework and how it might evolve before offering a verdict on the euro so far. …The move to monetary union has been criticized by many economists and the weak performance of the euro on the foreign … exchange markets between 1999 and 2001 has tended to reinforce these doubts. Yet in many respects the introduction of the euro …