IDEAS home Printed from https://ideas.repec.org/a/ibg/eajour/v40y2007i3-4p58-67.html
   My bibliography  Save this article

The Future of the European Economy

Author

Listed:
  • Srdjan Redzepagic

    () (Institute of Economic Sciences, Belgrade, Serbia)

Abstract

After the collapse of Communism in 1990, the European Union (EU) has immediately sustained in the process of democratization in the ex-communists countries, and has provided necessary technical and financial assistance in order to place a market economy. The enlargement was (and always is) the most significant and the most ambitious European project since the signature of the Treaty of Rome: it reconciles one of the economic projects of the united Europe with geo-strategic vision of the European continent, which will allow the important position of the EU in the World. The 1st May 2004 the EU has passed to the twenty-five member countries, with accession of ten New Member States (NMS). The process of enlargement has continued on January the 1st, 2007 by accessing to the EU of Bulgaria and Romania. The Single Market”, Economic and Monetary Union (EMU) and the process of integration are the major points of the Europe of twenty-seven member countries. The process of preparation of accession to the EU, has announced the preparation in the Central and East European Countries (CEEC) from the 1989, and it marked some difficulties for the CEEC – on the level of political integration but also economic and social. The present article show us, also, the importance of the introduction of the euro – which present the very important phase in the evolution of the EU, and the biggest monetary changement in the history of Europe…We consider euro as the concretization of the EU. It represents the success of the “Single Market” and contributes to the economic stability of the EU. Also, it is important to know that the euros play his important role to the politic and economic fields. The New Member States (NMS) are engaged to enter to the EMU in his future. For the success of their entrance to the EMU, the NMS have to align their economies with these of the old member states of the EU. This economic alignment, so called “convergence”, constitutes the supplementary phase on their aim toward European integration. The latest enlargements represent the most important moments in the history of the European continent. Today, the question is also the integration of the Balkan countries to the EU and their future toward European integration.

Suggested Citation

  • Srdjan Redzepagic, 2007. "The Future of the European Economy," Economic Analysis, Institute of Economic Sciences, vol. 40(3-4), pages 58-67.
  • Handle: RePEc:ibg:eajour:v:40:y:2007:i:3-4:p:58-67
    as

    Download full text from publisher

    File URL: http://www.ien.bg.ac.rs/index.php/en/2007/2007-34
    Download Restriction: no

    More about this item

    Keywords

    EU; EMU; CEEC; enlargement; Euro; European economy;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F31 - International Economics - - International Finance - - - Foreign Exchange

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibg:eajour:v:40:y:2007:i:3-4:p:58-67. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zorica Bozic). General contact details of provider: http://edirc.repec.org/data/ienbgyu.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.