test of this proposition, and the outcome leaves the EU found wanting. The first section of this paper places EMU in the …

years. Some studies aim at analysing the suitability of these Euro aspirants for currency union with EMU by evaluating the … present EMU and use a structural VAR approach to evaluate EMU suitability of the candidate countries. To correct for the …

model suggests that the EMU members may want to withhold the publication of forecasts when taking enlargement with a more …

The stringent deficit criterion followed by the EMU is motivated by the belief that a sustainable fiscal arrangement is … in the Euro area and compare and contrast the Euro-zone deficit with the US federal deficit. We find (i) evidence of … fiscal convergence in most of the Euro-11 countries; (ii) achievement of 3% criteria by all Euro-countries immediately before …

Monetary Union (EMU). …

The euro is the second most important global currency after the US dollar. However, its international role has not … increased since its inception in 1999. The private sector prefers using the US dollar rather than the euro because the financial … the attractiveness of the euro outside the euro area requires, among others, a proactive role for the European Central …

Austria, Finland and Sweden became members of the EU in 1995. This paper examines how support for the euro and trust in …. Support for the euro in the two euroarea members Austria and Finland has remained high and relatively stable since the … physical introduction of the new currency nearly 20 years ago, while the euro crisis significantly reduced support for the euro …

An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not …

An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not …

In this paper we analyze the nature of the shocks hitting the EMU member countries over the period 1991-2004, as well … as for the two subperiods before and after 1999, i.e., the start of EMU. To this end, we first evaluate the relative … vulnerability of the EMU countries to temporary and asymmetric shocks, which would be the most harmful case for the operation of a …