返回Google圖書搜尋

Economic & Monetary Union

其他書名	Past, Present & Future
出版	SSRN, 2012
URL	http://books.google.com.hk/books?id=Z23ezwEACAAJ&hl=&source=gbs_api

註釋On 1 January 2002, twelve out of a total of fifteen EU member states started the process of replacing their distinct national currencies with euro banknotes and coins (Britain, Denmark and Sweden declined to participate). The introduction of the euro marked one of the most significant developments in the history of European integration since end of the Second World War. A number of important implications have arisen from the introduction of the euro, both for those countries which have chosen to adopt the new currency and for those which have chosen not do so. One of the most obvious implications is that the euro has made it easier to travel and do business within the so-called 'euro-zone' countries by reducing the need for currency conversion. Acceptance of the euro is, however, not without its potential costs. This includes the key question as to whether it is possible to establish a monetary and fiscal policy that satisfies the interests of all participating countries. In offering an analysis of monetary union, this article begins by reviewing the development of EMU before proceeding to explain its implications. The article then highlights the experience of the adoption of the euro. We close by briefly examining the particular case of Britain, which has chosen not to adopt the euro at the present time.