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The Eastern Enlargement of the Eurozone (Hardcover, 2006 ed.)
Loot Price: R2,929
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The Eastern Enlargement of the Eurozone (Hardcover, 2006 ed.)
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The Eastern Enlargement of the EU will not be complete until the
new member states join the EMU. Economic and political economy
arguments point to fast EMU accession of new member states. Failure
to do so will create a two speed Europe, a fundamental change in
the economic and political architecture of the EU, adding to the
strains already evident between core and peripheral countries.
Current high level of trade and business cycle integration of new
member states with the Eurozone, decreases the probability of
asymmetric shocks. Lower transaction costs, elimination of exchange
rate risk and the danger of currency crises, further trade and
investment creation, lower interest rates and large fiscal gains,
should outweigh the loss of the exchange rate as adjustment tool.
The Eastern Enlargement of the Eurozone provides comprehensive
economic analysis of theoretical, empirical and political issues
that will determine whether EMU enlargement is a success, which has
implications for all common currency systems.
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