Why didn't Sweden, Denmark and England abandon their national currency and opt for the Euro?
Date de publication :
15/07/2004
Langue :
Anglais
Format :
.doc
Nombre de pages :
13 pages
Sommaire :
Sommaire
- Different degrees of Economic Integration or how EU tends to become a true 'Economic Union'.
- Positive effects of Euro in general or why 12 countries have accepted to enter to Euro currency area.
- Monetary reasons.
- Business reasons.
- My reasons.
- Negative effects of Euro in general: Mundell's impossible trilogy with the loss of sovereignty and the theory of Optimal Currency Area.
- The Optimal Currency Area (OCA).
- The impossible trilogy or the inconsistent trinity principle.
- Why did Denmark, the UK, Sweden opt out of the Euro area?.
- Historical background: the refusal of Euro.
- Major and common reasons.
- National reasons.
- Any regrets?.
Résumé :
In order to answer those questions, I divided my term paper into four major parts. I first stressed on the different degrees of International Integration in order to see how the European Union is heading in the direction of "Economic Integration". Second I brought the positive effects expected of the euro or why twelve countries accepted to enter the euro currency area. Then I analysed the negative effects of the single currency by using the optimal currency Area and the inconsistent trinity principle theories. In the fourth part I deeply wondered why the UK, denmark and sweden opted out of the European Monetary Union. At last : have those countries regretted their choices?
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