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Is the Euro, as a Common Currency,a Tool for Integration?

Author

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  • Lorca-Susino, Maria

Abstract

The European Union (EU) has become an icon of successful regional integration. Despite this success, the on-going integration process has two different speeds; while economic integration has been fast, steady, and assertive, political integration has been slow and demoralizing at times. This is justified by the complicated idiosyncrasy of the EU structure. However, this complacency with integration difficulties is becoming dangerous as the EU is at a critical moment with respect to both economic and political integration. In fact, many voices are claiming that the EU integration process has come to an abrupt end due to the latest difficulties in encouraging important structural reforms, implementing sound economic requirements, and struggling to agree on the Reform Treaty. However, this criticism is opportunistic because it does not take into account all that has been achieved in such a short period of time given the number of different countries involved, especially after the introduction of the EMU and the adoption of the euro as a common currency.

Suggested Citation

  • Lorca-Susino, Maria, 2008. "Is the Euro, as a Common Currency,a Tool for Integration?," MPRA Paper 7365, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:7365
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    Keywords

    Political integration; economic integration; euro; EU;
    All these keywords.

    JEL classification:

    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • A10 - General Economics and Teaching - - General Economics - - - General

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