EURO project, 20 years on: A critical assessment and the road ahead

30-01-2019

20 years have passed since EURO was first introduced in 1999. Several restructurings and crises later, the Monetary Union remains, but in a different shape and size to when it was first introduced. Against this background, the current paper critically explores the following dimensions of the Euro Area project: Credibility and stability, economic performance, uneven developments, and the main avenues/challenges for the project in the years to come. The document includes two comparative aspects: a domestic dimension from a historical perspective and a global comparison in terms of economic and monetary performance to other advanced economies during the past two decades. This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.

20 years have passed since EURO was first introduced in 1999. Several restructurings and crises later, the Monetary Union remains, but in a different shape and size to when it was first introduced. Against this background, the current paper critically explores the following dimensions of the Euro Area project: Credibility and stability, economic performance, uneven developments, and the main avenues/challenges for the project in the years to come. The document includes two comparative aspects: a domestic dimension from a historical perspective and a global comparison in terms of economic and monetary performance to other advanced economies during the past two decades. This document was provided by Policy Department A at the request of the Committee on Economic and Monetary Affairs.

Autorzy zewnętrzni

Eddie Gerba