Yes / This chapter reviews the substantive issue of monetary union through evaluating countries readiness for entry utilising the experience of the European Union’s process of Economic and Monetary Union (EMU). The European single currency system came under unprecedented strain following the Global Financial Crisis induced Great Recession and there is little reason to assume that this will diminish, in any significant way, in the near future. Crucially it is important to reflect that each economy is unique in its blend of sectoral strengths and weaknesses and comparative advantage, therefore the national interest will be distinctively different for each potential participant. In particular, there is no set rule in which to weigh the relative merits of the arguments associated with membership of a monetary union. In terms of the eurozone the chapter critically evaluates the convergence criteria stipulated in the Treaty on European Union (TEU) and empirically reviews the compliance of EU member states. It questions whether the TEU criteria satisfactorily perform this role, such that the convergence criteria present a series of financial tests, of which some are theoretically spurious, while the remainder are inadequate to indicate the range of consequences of participation. Finally, the chapter undertakes an analysis of the macroeconomic performance of Greece. Specifically, it focuses on the main features, economic events and key economic indicators (GDP per capita, inflation, unemployment, twin deficit of current account and net lending/borrowing, output gap and gross debt) during the crucial 2000-09 period, between eurozone membership and the crisis.

The goal of the Master thesis is to assess potential benefits and costs for Czech economy resulting from joining the euro-zone. The thesis also reviews the preparedness for the euro adoption in terms of fulfilment of both the nominal and real convergence criteria. First part summarizes the brief history of European monetary integration and theoretical aspects associated with function of monetary union. Follows the major part namely euro adoption in the Czech Republic where current status of fulfilment of maastricht convergence criteria and additional factors of real convergence will be analysed. This part of thesis also deals with direct and indirect impact of euro adoption on Czech economy. In the thesis I will also review current problems of euro-zone which could negatively affect the strategy of euro adoption in the Czech Republic.

The objective of this research is to gain a better understanding into the feasibility of establishing a monetary union in SADC in the context of the agreed targets set out by SADC and the African Union. Seven experts in the field of monetary integration within SADC participated in this research and their feedback was analysed and themes captured in terms of the five research questions posed. The questions posed as part of this research explores whether trading blocs are moving towards monetary union, whether the targets set out by SADC for monetary integration are being met, whether the time frame agreed by SADC is reasonable and whether there is political will from member countries for such a monetary union in SADC. The researcher has identified three main reasons why monetary union would be beneficial for the SADC region, and also identified the four pillars of monetary integration that is required for monetary integration to succeed. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

The aim of this thesis is to assess, whether the Czech Republic, Hungary and Poland are ready to adopt the euro. The thesis consists of three main parts. The first part describes the history of the European Monetary Union. The second part focuses on the development of Czech, Hungarian and Polish economy in the years after transformation to a market economy. The last part deals with the Maastricht Convergence Criteria and Real Convergence Criteria, whereas also attempts to assess their actual fulfillment in the Czech Republic, Hungary and Poland.

The thesis is aimed at the evaluation of preparedness of the Czech Republic for acceptance of the common currency. Preparedness according to the convergence criteria and the state of the real convergency is evaluated in the thesis. Within the convergence criteria a state of the public finance is discussed in detail and the necessity for undertaking reforms. The real convergency is rated in the thesis according to the value of the GDP per capita, flexibility of the labour market, competitiveness and openness of the economy. In the end the recent progress in the EU is discussed, mainly in the Euro-zone. An outlook of the impact of the current events on the future of the EU is proposed.

Magistro baigiamajame darbe išanalizuotas ir įvertintas Lietuvos ir Slovėnijos infliacijos, valdžios sektoriaus metinio biudžeto deficito ir bendrosios skolos, ilgalaikių Vyriausybės vertybinių popierių (VVP) palūkanų normos bei nacionalinės valiutos stabilumo lygio atitikimas konvergencijos kriterijams 2000-2008 m. laikotarpiu. Pirmoje darbo dalyje analizuojami infliacijos, valdžios sektoriaus metinio biudžeto deficito ir bendrosios skolos, ilgalaikių Vyriausybės vertybinių popierių palūkanų normos bei šalių dalyvavimo antrajame valiutų kurso mechanizme (VKM II) teoriniai aspektai – pateikiama kiekvieno iš šių kriterijų samprata, analizuojamos atsiradimo priežastys bei pasekmės, nagrinėjami vieną ar kitą reiškinį lemiantys veiksniai, pateikiami su šių makroekonominių rodiklių pokyčiais susijusių problemų sprendimo būdai. Antrojoje darbo dalyje aptariami tyrimui atlikti naudoti kiekybiniai ir kokybiniai metodai bei įvertinama jų taikymo galimybė konvergencijos kriterijų įvertinimui. Trečiojoje darbo dalyje tiriama Lietuvos ir Slovėnijos infliacijos, valdžios sektoriaus metinio biudžeto deficito ir bendrosios skolos, ilgalaikių Vyriausybės vertybinių popierių (VVP) palūkanų normos ir nacionalinės valiutos stabilumo lygio dinamika 2000-2008 m. ir identifikuojami tokį kitimą lėmę veiksniai bei priežastys. Taip pat įvertinamos Lietuvos perspektyvos ateityje įsivesti bendrąją ES valiutą – eurą ir aptariama Slovėnijos narystės euro zonoje nauda šaliai. / In the Final Master’s Degree Work there are evaluated Lithuania and Slovenia‘s inflations, government‘s annual budget deficit and gross debts, long-term government stock interest rate and national currency stability level conformity to the convergence criteria in 2000-2008. The first part of the paper explores theoretical aspects of inflation, government‘s annual budget deficit and gross debts, long-term government stock interest rate and participation of the countries in ERM II – conceptions of every of those criteria are presented, the reasons and outcomes of the appearance are being analysed, factors causing one or another occurrence are being examined, solving methods for the problems related to these macroeconomical indexes are being introduced. In the third part of the work Lithuania and Slovenia‘s inflation, long-term government‘s annual budget deficit and gross debts, long-term government stock interest rate and national currency stability level dynamics in 2000-2008 are researched and the factors and reasons that caused this kind of change are identified. Also, perspectives of Lithuania in the future to introduce the common EU currency – euro are being estimated and benefit of the Slovenia membership in the euro zone to the country is being discussed.

This work summarizes readiness of the Czech Republic for addoption of common currency euro. It describes the history of common European currency in the first chapter and economic and monetary union in second chapter. The fourth chapter analyzes the fulfillment of Maastricht convergence criteria in the Czech Republic in comparison to Slovenia. The last chapter focuses on the fulfillment of the optimum currency area criteria in these countries

The study is focused on analysing of the process of convergence of the Czech republic to the European Economic and Monetary Union. There are three main topics: real convergence, nominal convergence and the Maastricht convergence criteria. The status of convergence of the Czech republic is analysed at the end of the year 2008.

The theses deals with the austrian public debt. The theoretical part gives a view into basic terms and problematic of public finance. The theoretical terms are applicated on the probletic of public finace of Austria. There is a comparison of accomplishment of nominal convergence criteria within the members of the European Union. The history of austrian economic policy since the 20. century is described. The theses then deals with the prediction of the economic development and growth. It is described, which economic impacts on austrian public finace this could have in the following period.

In my diploma thesis, I study optimality of the European Economic and Monetary Union on basis of principles of the Theory of Optimum Currency Areas -- OCA, with special attention to the criterion defined by R.A.Mundell. I point out some rigidities of the European labor market because of which this criterion is not met. On basis of an assumption that the more countries meet these criteria, the more suitable candidates for an entry of the monetary union they are, I reach a conclusion that EMU is not an optimal monetary zone. Nonetheless, the thesis does not ignore a hypothesis of the endogenous character of the OCA theory criteria, i.e. that they can be met even after an entry of the monetary union. Furthermore, with respect to the OCA theory criteria, I study appropriateness of the set Maastricht Convergence Criteria for evaluation of preparedness of countries for an entry of the EMU. The thesis also deals with potential revenues and costs of the introduction of euro in the Czech Republic. At the end of the thesis, I suggest potential alternatives of future development of EMU with respect to the current problems of the monetary union.