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The Economic and Monetary Union and its impacts on Europe’s economies

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  • Cristian Pana

    (Ecological University of Bucharest)

Abstract

This paper reviews the experience of the first decade of Economic and Monetary Union and the euro in historical perspective. With the establishment of Economic and Monetary Union (EMU), the EU has made an important step towards completing the internal market. The essay analyses the impacts that the Economic and Monetary Union has had in Europe, focusing on the income distribution, economic growth, employment, trade, foreign direct investments and tax system. The EMU is providing an environment of economic and monetary stability all over Europe which is favourable to sustainable growth and job creation, and the single currency has done away with disruptions caused by sharp movements in the exchange rates of the former national currencies.

Suggested Citation

  • Cristian Pana, 2008. "The Economic and Monetary Union and its impacts on Europe’s economies," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 42(5-6), pages 165-178.
    • Handle: RePEc:blg:reveco:v:42-43:y:2008:i:5-6:p:165-178
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