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The Eastern Enlargement of the Eurozone

The Eastern Enlargement of the EU will not be complete until the new member states join the EMU. Economic and political economy arguments point to fast EMU accession of new member states. Failure to do so will create a two speed Europe, a fundamental change in the economic and political architecture of the EU, adding to the strains already evident between core and peripheral countries. Current high level of trade and business cycle integration of new member states with the Eurozone, decreases the probability of asymmetric shocks. Lower transaction costs, elimination of exchange rate risk and the danger of currency crises, further trade and investment creation, lower interest rates and large fiscal gains, should outweigh the loss of the exchange rate as adjustment tool. The Eastern Enlargement of the Eurozone provides comprehensive economic analysis of theoretical, empirical and political issues that will determine whether EMU enlargement is a success, which has implications for all common currency systems.

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Author: Marek Dabrowski

Editor/Translator: Marek Dabrowski, Jacek Rostowski,

Edition: Softcover reprint of hardcover 1st ed. 2006

Binding: Paperback

Condition: New

Manufacturer: Springer

Number of items: 1

Number of pages: 232

Product group: Book

Studio: Springer

Publication Date: November 23, 2009

Publisher: Springer

Pages: 232

EAN: 9781441938343

ISBN: 1441938346

ASIN: 1441938346

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Marek Dabrowski
Dr. Marek Dabrowski is a Non-Resident Scholar at Bruegel, Professor at the Higher School of Economics in Moscow, co-founder and Fellow at CASE - Center for Social and Economic Research in Warsaw and Member of the Scientific Council of the E.T. Gaidar Institute for Economic Policy in Moscow.