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The Structure of the European Central Bank and the Non-Conformity with Optimum Currency Area Theories Could Jeopardise Economic and Monetary Union.

Kelley, Paul (2000) The Structure of the European Central Bank and the Non-Conformity with Optimum Currency Area Theories Could Jeopardise Economic and Monetary Union. Undergraduate thesis, Dublin, National College of Ireland.

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Abstract

"Yes it is Europe, from the Atlantic to the Urals, it is Europe, it is the whole of Europe, that will decide the fate of the World" Charles de Gaulle, speech to the people of Strasbourg on 23 November 1959.

The project of Economic and Monetary Union started in earnest with the signing of the Maastricht Treaty. The idea had circulated ever since the EEC came into being in 1957, and culminated in the establishment of the Eurozone on January 1st 1999. Currently, there are eleven countries who have their currencies permanently fixed to the euro and whose monetary policy is decided by the European Central Bank in Frankfurt. The 290 million citizens of the Eurozone will, in 2002, have the same currency, the euro, which can be used throughout this region. The different countries involved have their own reasons for wanting to be a part of such a union, and they all hope for success. However, it may not be a smooth ride.

The untried European Central Bank is potentially flawed and the conditions for monetary union may not be in existence in Europe. The outcome is not certain and the result could be that the unthinkable happens, a collapse of the whole project. What is certain, though, is that if de Gaulle's vision is to be realised and Europe is to challenge the United States and become the dominant force in the world, the success of Economic and Monetary Union is vital.

Item Type: Thesis (Undergraduate)
Subjects: H Social Sciences > HG Finance > International Finance. International Monetary System
H Social Sciences > HG Finance > Banking
J Political Science > JN Political institutions (Europe) > European Union
Divisions: School of Business > BA (Honours) in European Business and Languages
Depositing User: SINEAD CORCORAN
Date Deposited: 13 Aug 2010 09:20
Last Modified: 02 Dec 2014 19:57
URI: http://trap.ncirl.ie/id/eprint/389

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