Search results for "Monetary integration"
showing 5 items of 5 documents
Why so much EURO-scepticism among Euro-enthusiasts?
2016
This paper addresses the intriguing situation in which there is an identified paradox inside the Polish society, namely strong Euro-enthusiasm combined with clear EURO-scepticism. The author of this article differentiates between EURO-scepticism and Euro-scepticism. Euro-scepticism is a recognised and extensively researched phenomenon across Europe, most generally conceptualised as a negative attitude towards the European integration process (in particular in the form of the European Union). EURO-scepticism, by contrast, is a much narrower category which can be characterised as a negative attitude towards the monetary integration on a supranational level, its deepening, participation in it,…
Testing for external sustainability under a monetary integration process. Does the Lawson doctrine apply to Europe?
2015
Monetary integration, and more specifically, the creation of a monetary union in Europe, raises new economic questions concerning its functioning and governance. In particular, we focus on the implications of high and persistent current account deficits for the economic performance of monetary union members in the medium term. Recent literature has argued that conventional measures of external sustainability are misleading because they omit the effects of capital variations on net foreign asset positions due to, among others, stock or debt market crises. In this paper we revisit external sustainability making use of the database developed by Lane and Milesi-Ferretti (2007) that includes the…
The evolution of the Polish central bank’s views on Eurozone membership
2016
AbstractThis article analyses the reports published by the National Bank of Poland (NBP – Narodowy Bank Polski) between 2004 and 2014. These reports shed light on the evolution of official thinking on the possibility of Polish participation in the Eurozone, revealing a decline in enthusiasm over time. This change has taken place against a backdrop of a shift in general public attitudes (in Poland) towards the European Union, and a more specific shift in public opinion on the desirability of monetary integration on the supranational level caused by the economic crisis. These two factors explain the shift in conclusions and arguments contained in the official reports of the National Bank of P…
Asymmetrical Crisis in the European Union: The Example of Greece
2020
The article presents the current economic crisis from an historical perspective, analyzing the building of the monetary integration and the common currency. The process is explained pointing out its effects on the European integration and outlining the positive and negative consequences of the introduction of a common currency in the European Union. The investigation continues with a general outlook of the current situation of the countries more affected by the current crisis, Greece, Ireland, Portugal, Spain and Italy. All of them have in common the necessity of extra funding in a context of austerity, plus some national particularities. The author proposes an expansion in the public spend…
EUROscepticism and Monetary Security in Europe
2018
By deliberating on the correlations between the monetary security and the EUROsceptic views of the European citizenry and elites, this chapter addresses the problem of supranational monetary policy and the consequences it has for the economic security of the EU and its constitutive member states. The analysis starts with the introduction into the concept of EUROscepticism and its relations with the classical Euroscepticism. Then the second key term of the chapter is defined, which is the monetary security—nested in the general understanding of the economic security. Here, not only the author provides his own understanding of the monetary security, but also discusses its main levels, dimensi…