6533b7d4fe1ef96bd1262b14

RESEARCH PRODUCT

Euroizacja – pomiędzy zróżnicowaniem a pogłębioną integracją europejską

subject

description

Euroization, understood as the expansion of the euro, the currency performing most or all functions of money in international trade, raises many questions and controversies both in the public debate and in the scienti!c discourse. The objective of this paper is to reach beyond the above-mentioned narrow de!- nition of euroisation, limiting itself to the process of absorbing new members (territories, economies, etc.). The scope of euroisation develops subjectively – embracing new states, as well as objectively – new markets, instruments, etc. (e.g. rising share of deposits denominated in euro, outside of the euro-zone). It is important to notice that this process evolves both o#cially and uno#cially, especially in (semi) peripheral countries. The clientelistic nature of their relations with the core countries (quality and direction of the investment $ows or labour mobility) imply also a higher probability of using euro both in o#cial and unof- !cial circulation. Euroisation remains one of the most important dimensions of di%erentiated integration in Europe