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EU Monitor

The series "EU Monitor" focuses on political, economic and monetary developments in the enlarged EU. The spectrum ranges from political commentaries and reform of the EU institutions to matters pertaining to the European Economic and Monetary Union, financial-market and banking aspects, and the consequences of enlargement for specific sectors and countries.

2 Documents
November 28, 2008
1
The Asian crisis 1997/98, the launch of the euro in 1999 and the global financial crisis 2007/8 have stimulated monetary cooperation in East Asia and debate about an Asian Monetary Union (AMU). The success story of the euro can serve as a role model but special features in East Asia have to be taken into account. Given the current heterogeneity of Asian countries the exchange rate orientation will remain dominated by a mixture of dollar-pegged and (managed) floating schemes for the time being. The introduction of a single currency requires strong political will as well as the building of institutions, a legal framework and trust. Therefore, it is likely to take at least another two decades before AMU can be launched. [more]
July 23, 2008
Region:
2
The euro was launched with great expectations in 1999 and is a success story today. This is based on a high degree of price stability, the stimulation of trade and investment in Europe, good progress in financial market integration, and a growing international role played by the euro. But there have been disappointments, too, especially as far as growth and EMU enlargement are concerned. The monetary union faces major challenges as it enters its second decade. The distortion of competitive positions within EMU needs to be corrected. And the reformed stability pact still has to stand the test in conditions of weak growth. [more]
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