Acta Economica (Jun 2006)
EURO – European and world money for 21st century
Abstract
The formation of European Monetary System and introduction of euro as a common European currency have the main and even crucial role in establishing the steady integration structure of European Union. The aims of EMS and its currency, euro, are to provide stability in Europe with low rate of inflation, to improve economic cooperation among its members and to keep down the negative effects of foreign economic-political shocks, due to frequent and excessive fluctuation of American dollar. Bringing euro into the world scene has not economic but political dimension as well. The success of euro will determine the future of Europe in the world economic and political relations during the XXI century. Euro leads European Union in the world scene and in the best way shows that EU cannot play the role of a „economic giant” and a „political dwarf” at the same time. (Helmut Schmit, the former German Chancellor).
