The aim of this thesis is to analyse the effects of euro adoption on the economy. The main focus is to describe situation in Slovakia as a new member state of eurozone and to examine stages of preparation for euro adoption of other former V4 members -- Czech Republic, Hungary and Poland. The economy of all countries is strongly influenced by world financial crisis, effects of which are definitely being considered and reflected in this depiction.

This dissertation thesis examines the divergence of perceived inflation, measured by the EU Consumer Surveys, and officially measured inflation after the introduction of cash euro in several eurozone countries. Two groups of countries are tested in the thesis -- countries accepting the euro in 2002 and countries providing the changeover in later years. The main goal of the thesis is to test cross-country differences between officially measured and perceived inflation with respect to economic, social and cultural specifics of the countries in the eurozone, while main focus is given to examining the differences between the above-mentioned two groups of countries. The results obtained could help to derive policy conclusions for the other EU countries which have not yet accepted the common currency.

The current euro crisis is shaped by urgency and actuality. Since it affects a lot of people and different countries, it is also denoted by transboundary effects. Considering these circumstances, the call for quick crisis solution occurs. Therefore, the aim of this thesis is to investigate the leadership issue during the euro crisis. Based on theoretical principles of crisis leadership, we examine the role and behavior of Germany in the euro crisis. Due to the fact that Germany is currently in a significant position, we narrow down the crisis leadership aspect to this specific view. Providing an overall and thorough picture, we investigate Germany’s leadership in the euro crisis from different perspectives. In order to achieve this purpose, we determine this issue from a political, economical and societal perception, which seem to be the most influencing factors in the case of the euro crisis. By assembling the crucial findings of these separate categories, we gain a broader perspective and hence a generalized evaluation and understanding of the German leadership style.

This diploma work is concerned about of euro conversion and its impact on information system ERP SAP in large multinational company. Theoretical part is focused on general scenarios of euro adoption and progress of adoption of euro in Slovakia. Next chapter is describing methods of project management, definitions, subjects and stakeholders, organizational structures and phases of the project. Theoretical parts ends with description of ERP functionality, basic functional modules and general information about ERP SAP. Second, practical part is dedicated to project of conversion of euro in ERP SAP itself. Practical part begins with describing of company, organizational structure and IS architecture. Next chapters are focused on analysis of particular subprojects defined on scope of general euro conversion project, their schedule and reasoning of the sequence of each subproject.

In the euro area, the changeover to the euro was accompanied by fears of increases in prices by consumers. However, in most countries the changeover had barely any effect on inflation indices, but a significant effect on perceived inflation and even now people still believe that the price increase was more dramatic than it was in reality. This paper examines the situation in the Czech Republic, being one of the last countries in the EU which have not adapted the euro yet. I am especially interested in finding whether a changeover would lead to price increases even though Czech citizens have got plenty of time to indirectly familiarize with the euro currency. The analysis is based on a laboratory experiment. With this method I am studying the effects of transition to euro on consumer behavior. In addition, I compare the results (indirectly) with those of other European countries. Under the framework of posted price experiment, it can be concluded that, in the particular sample, the changeover to euro currency does in fact affect the outcome of trade at least temporarily. In this case, the changeover from CZK to EUR leads to elevation of prices and reduction of the traded quantities, especially right after the changeover. The main reason for this is that the producers (sellers) tried to exploit the changeover situation in order to increase their profits. All the presented results are significant at 5% level.

The recent financial and economic crisis led to a deepening of fiscal problems in many countries all over the world. European countries were also hit hard by the economic downturn. The critical situation in Greece and its negative impact on the economic situation in the whole Euro zone has brought up many questions about the rigidity and functionality of the euro concept. A majority of economists and politicians support the idea of saving the Euro zone since the break up would be quite costly. There are many ideas regarding a solution to the current situation, and one of the most radical is the introduction of a parallel currency in the states which are trapped in the debt crisis. The aim of the thesis is to take a critical look at the historical development of different approaches to this theme with a focus on theories based on the devaluation as the solution. The parallel currency theory is compared to Euro zone break-up scenario and hard restructuring option and the positives and negatives of each approach are analysed. Finaly the simulation on the Greeek case is performed to prove or diproved the positive effects of parallel currency establishment. JEL Classification E31, E42, E52, E63, F15, F36 Keywords Parallel currency, financial crisis, the euro, the European Union, the Euro zone

In the first chapter the thesis deals with the historical process of formation of the EU and EMU, in the other words euro area. Second chapter shows us the nominal and real analysis of convergence of Czech republic and Slovakia to the average of the EU 27 and former EU 15. Following chapters are about the process of ingression of Czech republic and Slovakia firstly to the EU and nowadays to the euro area. The aim of the thesis is to compare the process of the integration in these countries.

In the year of 1999 a new monetary experiment commenced – the birth of the euro. Over the years more countries have joined the new currency and it was expected to be a continuously growing community. The purpose of this paper is to measure the effect of European membership, the currency of euro and the financial crisis on trade between the countries located in Europe. For the task of this paper the gravity model is used to study the bilateral trade flows in the European Union from 1995-2011. It additionally investigates, besides the correlation between GDP and distance, the effect of shared border, shared language and coastal access. The results showed that the euro did indeed have a positive impact on trade in the introduction year to later significantly have a negative impact on trade. Moreover, a membership in the European Union results showed to promote intra-European Union trade at the cost of extra-European Union trade and have its largest impact in the beginning and end of the study years. The conclusion is that other factors than increased trade were the main reasons to join the European Union, such as enhancing the role of Europe in the world market and to turn into a unified market. Finally, the effect of the financial crisis was found to have a negative impact on trade, concluded that it exposed the failures and lack of coordination between and within countries. It was also shown that the physical distance, and not specifically distances in i.e. social culture and languages, boosted the trade between countries.

The Eurozone has been the object of much controversy recently. Both on the member-state and on the EU level, policies are being made to cope with the many problems of the Eurozone. In this paper we state that academic economics is often unable to give the right advice for policymakers in the case of the Eurozone crisis, because this is a new situation where academics are disagreeing fundamentally about the best remedy for the problem. We come to this conclusion by first showing how one of the most prominent theories about monetary unions (the Optimum Currency Area theory) is unable to give any good advice to policymakers. After that we make a country-comparitive study between the ten new EU members in Central and Eastern Europe that joined in 2004 and 2007, which shows us that these countries respond fundamentally different on the Eurocrisis and that these reactions are more based on political and public support and national economic performance than on formal academic economics.

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