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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19250| Title: | A Currency Crisis in Europe? The Europe's common currency and the new accession countries |
| Keywords: | F36 F33 F32 ddc:330 EU enlargement monetary integration currency crisis asset substitution EU-Erweiterung Europäischer Währungsverbund Währungskrise Europäische Wirtschafts- und Währungsunion Europa |
| Issue Date: | 16-Oct-2013 |
| Description: | The politically and legally complicated character of the EU Eastern Enlargement heavily influenced the conflict between the legal and economic rationality underlying the construction of the EMR-II. This makes the ERM-II vulnerable to currency crises and creates conditions for a widespread currency and asset substitution in the accession countries. As a result, the required participation of all accession countries in the ERM-II imposes unnecessary costs on the whole enlargement process. The costs could be avoided if the EU adopted a more flexible approach to the enlargement of its monetary union, allowing for an individual path of adopting the euro in each accession country depending on the country?s economic conditions. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19250 |
| Other Identifiers: | http://hdl.handle.net/10419/19250 ppn:391288601 RePEc:zbw:hwwadp:26309 |
| Appears in Collections: | EconStor |
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