Objectives of the study: To examine the role of Euro Zone and economic integration among European countries. It studies to analysis on the theoretical concept of Euro currency.
Methodology: The current study is descriptive and analytical in nature. The data used for the inspection study is secondary in nature & has been accumulated from economic shelp.
Findings: In 1998 eleven European Union member – states had met the convergence criteria, and the Euro Zone came into existence with the official launch of the Euro on 1 January, 1999. Economic integration covers different kinds of arrangements between or among countries by which two or more countries link their economies closer either in ract of total. They maintain the cohesiveness among or between the countries tariffs.
Estonia sees changing to the Euro as marking the end of its struggles since a 2009 recession lopped 14 percent off its out put. It hopes to entice investors by removing any fears of devaluation and make borrowing more secure for its people, many of whose mortgages are already in Euros. It also caps a drive for integration with the West, away from the influence of Russia that began with the collapse of the Soviet Union in 1991.
Still, the Euro remains among the strongest currencies in the world, and membership opens the door to a club with global influence. For small and unsure countries on the fringes of the European Union, it doesn’t get much better.
Application: Estonia becomes the third ex - communist state to make the switch to the Euro, after Slovenia and Slovakia, but it is the first farmer Soviet republic to do so, sending a signal to other countries in centered and eastern Europe that they, too can aspire to membership price stability is one of the main criteria for admission to the Euro club. But in the past, political leaders have brushed off concerns from the European Central Bank about candidate nations in their eagerness to the responsibility of the European Central Bank. Though there is no common representation, governance or fiscal policy for the currency union. |
