Greece and the Euro

2017 ◽  
Author(s):  
George-Marios Angeletos ◽  
Harris Dellas
Keyword(s):  
Monetary Union ◽  
Economic Benefits ◽  
Economic And Monetary Union ◽  
Macroeconomic Performance ◽  
Entry Decision ◽  
Alternative Scenarios ◽  
Benefits And Costs

This chapter studies the implications of Greece's membership in the Eurocurrency area for her macroeconomic performance and welfare. It first discusses the perceived economic benefits and costs from participation in Economic and Monetary Union (EMU) at the time of the original entry decision. It then argues that it made good economic sense for Greece to join. The chapter then describes what proved to be the actual main benefits and costs. Finally, attention is turned to the issue of the implications of continued membership in the eurozone. It asks what opportunities are associated with the two alternative scenarios of staying or exiting and how the two scenarios matter for Greece's macroeconomic performance and welfare. The chapter also examines the possible cost—for Greece—of default against official creditors.

Sense and Nonsense About the Single European Currency

1998 ◽  
Vol 33 (S1) ◽  
pp. 23-37
Author(s):  
Tim Congdon
Keyword(s):  
European Integration ◽  
European Commission ◽  
Monetary Union ◽  
Driving Force ◽  
Economic Benefits ◽  
Economic And Monetary Union ◽  
The Political ◽  
Single Currency ◽  
Financial Arrangements ◽  
Complete Transformation

The project to introduce a single currency is the most daring step so far in European integration. Indeed, it can be correctly described as revolutionary. It is much more far-reaching than previous moves in this direction over the last 15 years, such as the harmonisation of regulations or the ending of exchange controls; it is intended not as an incremental advance, but as a complete transformation of Europe's financial arrangements.The audacity of the single currency project is the more striking, in that it is a “revolution from above” rather than a “revolution from below”. The driving force has not been popular dissatisfaction with the existing currency arrangements, but the integrationist ambition of certain members of the European élite, particularly the German Chancellor, the French President and the President of the European Commission. (The integrationist ambition appears to attach to the positions ex officio and to be quite unaffected by the particular individuals who currently fill them.) These members of the élite emphasize the political nature of the single currency project, not the economic benefits. For example, Chancellor Kohl has said that European economic and monetary union (EMU) should prevent future wars in Europe.

One Market, One Money: An Evaluation of the Potential Benefits and Costs of Forming an Economic and Monetary Union.

1993 ◽  
Vol 103 (418) ◽  
pp. 748 ◽  
Author(s):  
Anthony Garratt ◽  
Michael Emerson ◽  
Daniel Gros ◽  
Alexander Italianer
Keyword(s):  
Monetary Union ◽  
Economic And Monetary Union ◽  
Potential Benefits ◽  
Benefits And Costs

scholarly journals Poland’s policy towards membership in the Economic and Monetary Union

2020 ◽  
pp. 179-192
Author(s):  
Katarzyna Kołodziejczyk
Keyword(s):  
Monetary Union ◽  
Comparative Method ◽  
Economic Benefits ◽  
Economic And Monetary Union ◽  
The European Union ◽  
Convergence Criteria ◽  
Ruling Elite ◽  
Main Research ◽  
Law And Justice ◽  
Strategic Goal

Poland’s accession to the European Union determines future membership in the Economic and Monetary Union (EMU). The subject of the research is the analysis of Polish policy towards EMU membership during the first 15 years of Poland’s membership in the EU. The research is political nature and intentionally does not focus on the economic benefits and challenges associated with Poland’s membership in the EMU. The aim of research is to focus on changes taking place in the policy towards Poland’s membership in the EMU conducted by the ruling parties, successively by the coalition of the Civic Platform (PO) and the Polish People’s Party (PSL) – PO-PSL in years 2007–2015 and then by the Law and Justice (PiS) in years 2005–2007 in consultation with the Self-Defence (Samoobrona RP) and the League of Polish Families (LPR) as well as 2015–2019 in the coalition with the Jarosław Gowin’s Agreement (Porozumienie Jarosława Gowina) and Zbigniew Ziobro’s Solidary Poland (Solidarna Polska). The main research questions relate to how has Poland’s membership in the EMU been perceived by the ruling parties since 2004 and what are the reasons for the fact that joining the eurozone by Poland until recently had been the strategic goal of the ruling elite of the country, and nowadays the strategic goal has become non-entry into the EMU. The main research methods were the analysis of the content of documents and a comparative method. The first method allowed presenting the perspective of Poland’s entry into the euro area from the side of the ruling parties policy. That is why the text was mainly based on source materials, i.e. reports, government documents, political speeches, party election programs and press articles. The second research method allowed to compare the concept of Poland’s membership in the EMU presented in various programs of the ruling political parties. The result of the conducted research indicates the radicalisation of the views of the Polish political scene. It also proves that date of adoption of the single European currency depends not only on meeting the convergence criteria, but also on which political option will rule in Poland.

Book Reviews

2006 ◽  
Vol 56 (4) ◽  
pp. 455-468
Author(s):  
Zoltán Ádám ◽  
László Csaba ◽  
András Bakács ◽  
Zoltán Pogátsa
Keyword(s):  
Developing Countries ◽  
Fiscal Policy ◽  
Monetary Union ◽  
Economic And Monetary Union ◽  
European Studies ◽  
Eu Accession ◽  
East European ◽  
The World ◽  
The Government

István Csillag - Péter Mihályi: Kettős kötés: A stabilizáció és a reformok 18 hónapja [Double Bandage: The 18 Months of Stabilisation and Reforms] (Budapest: Globális Tudás Alapítvány, 2006, 144 pp.) Reviewed by Zoltán Ádám; Marco Buti - Daniele Franco: Fiscal Policy in Economic and Monetary Union. Theory, Evidence and Institutions (Cheltenham/UK - Northampton/MA/USA: Edward Elgar Publishing Co., 2005, 320 pp.) Reviewed by László Csaba; Piotr Jaworski - Tomasz Mickiewicz (eds): Polish EU Accession in Comparative Perspective: Macroeconomics, Finance and the Government (School of Slavonic and East European Studies, University College of London, 2006, 171 pp.) Reviewed by András Bakács; Is FDI Based R&D Really Growing in Developing Countries? The World Investment Report 2005. Reviewed by Zoltán Pogátsa

Sign in / Sign up

Export Citation Format

Share Document