1. COULD EUROZONE PROTECT ITS MEMBER STATES DURING THE FINANCIAL CRISIS?
- Author
-
Radulescu, Magdalena
- Subjects
FINANCIAL institutions ,NOMINAL measurement ,MONEY ,EUROPEAN currency unit ,FOREIGN exchange ,EURO - Abstract
The crisis that is currently affecting the international financial system introduces an additional uncertainty factor and may complicate even more the task of Central and Eastern European Countries in adopting the euro. On the one hand, the management of the real and nominal convergence is becoming more and more difficult; on the other hand, the current crisis may prove to be the most serious test to which the European financial system and the euro currency thereof are subject. In addition to these general reference points, numerous questions are raised with respect to the process of preparation of euro adoption, to the schedule of achievement thereof and to the impact of the transition to euro on those economies. The paper tries to present some arguments pro and against entering the eurozone and how can protect a single currency area its member states during the crisis period. [ABSTRACT FROM AUTHOR]
- Published
- 2009