Harmonization with the Acquis Relating to EMU and Free Movement of Capital

2018 ◽  
pp. 116-134
Author(s):  
Alexia Kalispera
Author(s):  
George M. Von Furstenberg ◽  
Alexander Volbert

Free movement of capital and trade in financial services are driving regional currency consolidation. We compare the relative merits of adopting an international currency unilaterally or multilaterally. While EMU is the exemplar of the multilateral approach characterized by assured seignior age sharing and co-management of the joint monetary asset, unilateral monetary unions are represented by the proposed formal dollarization of some countries in Latin America. This paper finds that while such dollarization could be useful for the period ahead, it carries the seeds of its own destruction because peripheral countries that lose their currency need not support this one-sided arrangement indefinitely


2010 ◽  
Vol 69 (2) ◽  
pp. 378-409 ◽  
Author(s):  
Wolf-Georg Ringe

2008 ◽  
Vol 53 (No. 4) ◽  
pp. 167-172 ◽  
Author(s):  
D. Stoyneva

Bulgaria faced and still is facing many challenges in the accession process to the EU. Free movement of capital, and especially the development of the land market, is one of them. Although the progress is made, the market is still developing and the land prices are still below the average prices in EU. There are different reasons for this: very fragmented land after the restitution process, chaotic transactions, lack of bank credits for agricultural purposes, unrealistic expectations after the accession to the EU, etc. The land lease continues to be the preferred way for land cultivation instead of buying of land. All those problems are studied in the current paper. A concept for e-service that could contribute to solving the problems is introduced; relevant e-services are summarized and a particular solution is presented that uses results of the eTen project Bizmap.net. It is described how this solution could be used in the Bulgarian land market.


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