a special emphasis on the first year of the euro. A contribution is made as to how to measure these roles, both for … identification of changes in the role of the euro during 1999 compared to the aggregate of euro predecessor currencies, net of intra … -euro area assets/liabilities, before stage 3 of EMU. A number of key factors determining the currency distribution of …

of the euro area. For this purpose, we differentiate between the departure of weak and strong countries, and examine the …

FDI inflows across individual member countries. Euro zone membership is statistically significant but a negative … determinant in the cases of Greece, Portugal, France, Belgium and Spain. Furthermore, for both Germany and Ireland the Euro area …