The introduction on January 1, 1999, of the Euro as the single currency adopted by thirteen of the twenty-seven countries of the European Union marked the beginning of the final stage of Economic and Monetary Union and the start of a new era in Europe. This paper presents an overview of the impact of the introduction of the Euro on Europe’s financial structure. It analyzes changes in money markets, bond markets, equity markets and foreign exchange markets. The research also focuses on the macroeconomic changes that occurred in the European Union after the Euro implementation. It closely analyzes the convergence criteria each country needs to cover in order to adopt the single currency. Moreover, the research tries to find a link between the U.S. dollar as a single currency of the United States and the Euro as a common currency in the European Union in terms of monetary policy, market integration, and competitiveness of the market environment.
|Presenter:||Nikolay Dinkov (Undergraduate Student)|
|Time:||11:05 am (Session II)|