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International Journal of Economic Theory and Application

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The European Monetary Union: Creation, Advantages, Today's Problems

International Journal of Economic Theory and Application
Vol.1 , No. 1, Publication Date: Jul. 7, 2014, Page: 19-25

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Authors

[1]	Gediminas Davulis , Department Business studies, Faculty of Business Management, Vilnius University of Applied Sciences, Vilnius, Lithuania.

Abstract

The paper presents of the European Monetary Union as a result of process of the European integration. The main historical aspects the European integration are discussed in the article. The international role of European Monetary Union‘s common currency – Euro, its strenghtening in the pre-crisis period, its impact on the countries economy is analyzed. The present situation in the Euro zone , especially the problem of state dept and the measures taken by the institutions of European Monetary Union to solve this problem are discussed. Ihe analysis shows that the European Monetary Union will have long-term perspectives only if radical measures in the economic policy are taken.

Keywords

Euro, European Monetary Union, The Euro Zone Debt Crisis, Funds of Financial Stability

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