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EURO ADOPTION: IS IT REVERSIBLE?

Keywords: euro , reversibility , European Union , euro area , European Central Bank , Maastricht Treaty

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Abstract:

Starting from 1999 sixteen countries have adopted euro as a single currency. Considering that the Maastricht Treaty stipulates that all the European Union countries must adopt euro once they meet the requirements stipulated it is not a question of “if to join the euro area”, but rather of “when”. Therefore adopting euro currency is not and it should not be a reversible process. The decision to participate the monetary union represents the expression of a decision to move forward, while leaving it would be nothing else but a step back.

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