Policy Note 2002 / 3 European Integration and the " Euro Project "
نویسنده
چکیده
The introduction of the euro-in January 1999 as a "virtual" currency, and then in January 2002 as a "real" currency-has been a significant step in the integration of the economies of the countries that form the European Union (EU), and, more notably, for the 12 countries that have so far adopted the euro and created the Economic and Monetary Union (EMU). The adoption of the euro has not only meant that a single currency now prevails across the euro zone with reduced transactions costs for trade between member countries. It also has meant that the euro has become embedded in a particular set of institutional and policy arrangements that tell us much about the nature of economic integration occurring in the EU. In fact, the euro is a relatively small step along the path to further economic integration at the global level, and the neoliberal agenda of globalization can be clearly seen from the ways in which the euro has been introduced.
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