ADOPTING EURO IN THE NEW MEMBER STATES OF THE EUROPEAN UNION

Abstract

The aim of this study is to present a comparision between the new EU member states that adopted euro and the ones that didn’t adopt euro so far, regarding their performance in the nominal and real convergence area. The analysis covers the period during 2008 when the crisis errupted and 2015 for the countries in the Central and Eastern Europe that didn’t adopt euro so far. For the euro-zone member states in this region we studied the period between the year of adopting euro and 2015. Studying the statistical data for both eurozone member states and for the non-member states of the eurozone in this region we could conclude how they performed during the crisis and in the last years after the crisis period. Our conclusion is that, both in the nominal and in the real convergence area, the countries that didn’t adopt euro so far presents a better economic and financial situation.

Keywords

• euro-zone
• Central and Eastern European countries
• nominal and real convergence