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Risks and Potential Benefits of Enlarging the Euro Zone

Author

Listed:
  • Criste, Adina

    (Centre for Financial and Monetary Research “Victor Slăvescu”, Romanian Academy)

Abstract

Logically, the process of enlarging the euro zone, by assimilating the new EU member states, presumes first that the candidate countries meet the nominal criteria of convergence and, second, the actual adoption of the euro. The analysis of euro zone enlargement should reveal the potential costs and benefits of such action, the purpose of such enlargement being a net positive effect both for the new member states, and for the older member states. It is difficult, even impossible, to make an exhaustive analysis of the process; many times, the effects of the enlargement surfacing only after a long period after the adoption of the single currency.

Suggested Citation

  • Criste, Adina, 2010. "Risks and Potential Benefits of Enlarging the Euro Zone," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 14(2), pages 142-164.
  • Handle: RePEc:vls:finstu:v:14:y:2010:i:2:p:142-164
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    File URL: ftp://www.ipe.ro/RePEc/vls/vls_pdf/vol14i2p142-164.pdf
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    References listed on IDEAS

    as
    1. Philippe Aghion & Alan Ahearne & Marek Belka & Lars Heikensten & Jean Pisani-Ferry & André Sapir & Jürgen von Hagen, . "Coming of age: report on the euro area," Blueprints, Bruegel, number 11.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    nominal convergence; enlargement of the euro zone; competitiveness; currency exchange system; real exchange rate; banking credit;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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