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The Convergence Process in the EMU and the Fulfilment of Maastricht Criteria
Mecová, Markéta ; Izák, Vratislav (advisor) ; Blažek, Petr (referee)
The content of this bachelor thesis is the issue of meeting Maastricht criteria as well as presenting the view of Mundell's theory of Optimum currency areas. The work is divided into three chapters. In the first chapter, I generally describe and define the convergence criteria one by one and I also characterize the theory of Optimum currency areas. Some economists argue that the European Union's monetary area meets the conditions and could be considered as Optimum currency area. On the contrary, some economists use this theory and claim that European monetary area will never be able to meet those conditions. The second chapter of the thesis analyses the fulfilment of quantitative convergence criteria of chosen countries that have made a commitment to become a member of the European Monetary Union in the future. The third chapter summarizes fiscal criteria of all twenty-seven Member States of the European Union.
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Dopady měnové (dez)integrace na ČR
Semerák, Vilém ; Švejnar, Jan
Česká republika se při vstupu do EU oficiálně zavázala přijmout v budoucnosti euro. Ač změny EMU a současné problémy eurozóny mohou zpochybňovat reálný význam tohoto závazku, současná situace je pro českou ekonomiku natolik závažná, že je nutno analyzovat, jaké důsledky mají budoucí scénáře vývoje eurozóny na ČR1 a jaký postoj má ČR nadále zaujímat k měnící se EMU či k jejímu užšímu nástupci.
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Evropská krize: špatná a ještě horší řešení
Semerák, Vilém ; Švejnar, Jan
Přežití eurozóny je ohroženo kvůli nedodržování vlastních pravidel a kvůli chybám, které byly v jejím designu od samého začátku. Přesto má reformovaná eurozóna stále ještě šanci na přežití, mimo jiné i proto, že většina alternativ má při současné míře vzájemné závislosti slabá místa a především obtížně odhadnutelné dopady. Skutečná stabilizace eurozóny však vyžaduje plán, který bude obsahovat nejen jasné informace o vypořádání se s dluhy a o použitelných zdrojích likvidity, ale i dlouhodobou strategii řešící nedostatky současné EMU.
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Dynamics of monetary integration with a focus on EMU
Kříž, Karel ; Mládek, Josef (advisor) ; Urban, Luděk (referee)
In context of recent development in the euro area it is obvious that the status quo is unsustainable and it is necessary to execute certain measures which would ensure its functioning in the future. The aim of this thesis is to find out the most appropriate solution for the European Union as a whole. Thesis presents and compares the three most likely scenarios for future development. A brief overview of the development of European integration, the concept of optimum currency area with the criteria for its better functioning and examples of other monetary unions with the threats they could possibly face are included for better understanding of the issue.
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EMU crisis management - effectiveness of stabilization of the euro at the time of debt and currency crisis
Mančáková, Linda ; Bič, Josef (advisor) ; Abrhám, Josef (referee)
The thesis analyzes measures adopted and applied by the EMU crisis management in years 2010 to 2012, that means at a time when debt and currency crisis was affecting the euro area countries the most. The main focus is dedicated to the rescue mechanism EFSF and expansive monetary policy of ECB as these crisis management tools were used for stabilization of the debt situation in Ireland, Portugal and Greece. Analyzing of these tools leads to assess their contribution to selected country and to European monetary union as a whole. The final part is devoted to possible solutions for the debt crisis and to the future of the eurozone and the common currency.
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The Franco - German relations in the context of the European debt crisis
Šuchta, Juraj ; Žamberský, Pavel (advisor) ; Bartušková, Hana (referee)
The bachelor thesis deals with the background of the European debt crisis with an emphasis on the role of the main creators of the European Monetary Union, France and Germany. The thesis aims to analyze both economies in the context of the current eurozone crisis and point out their responsibility for today's adverse situation. In the first chapter I deal with the Franco - German cooperation during the process of building the Monetary Union. The second chapter compares their economic policies, while the focus is on Germany's pro-export policy and its impact on the other euroarea countries. The last chapter focuses on the solutions to the crisis which have been largely the result of agreements between these two countries.
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European monetary integration, receiving euro in Slovakia
Kostrba, Ondřej ; Dočkal, Dalibor (advisor) ; Urban, Luděk (referee)
The topic of this work is european monetary integration and receiving european currency euro in Slovakia. First part of this work is focused to compare european monetary union with theory of optimum currency areas. In this part I compare indicators, which the countries engaged to the european monetary union should realize, with their reality. In the second part the main idea is history of the european monetary union from the beginign of the second half of the twentieth century to the present. In the last part I describe receiving euro in Slovakia and development statistics indicators before and after receiving. Some of these indicators I compare with indicators from the Czech republic. On the last, I add classification and opinions to receiving euro in Slovakia from different subjects, e.g. from european commission and specialists to this problems.
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Monetary policy of the ECB and the CNB since the creation of the euro area: convergence or divergence?
Vránová, Veronika ; Janíčko, Martin (advisor) ; Kubíček, Jan (referee)
The thesis is based on the assumption that, given the expected adoption of the euro in the Czech Republic, there should be a convergence also in monetary policy. The aim is to compare the final impact of monetary policy of the ECB and the CNB on the monetary indicators - inflation, interest rates and the exchange rate since 1999 and, consequently, to assess their convergence using simple statistical models. Concerning the thesis composition, the introductory section briefly describes the historical development of the euro area, which allows a better understanding of its initial composition and the nature of the EMU. Subsequently, the paper deals with the actual monetary policy of both central banks. It outlines institutional arrangements, objectives, strategies and instruments, which shaped their activity. Further, some convergence issues are presented. Final part focuses on the comparison of selected indicators and their assessment of convergence within euro area and the Czech Republic.
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Readiness of the Czech republic for the acceptance of euro
Jerichová, Lana Martina ; Bič, Josef (advisor) ; Procházková Ilinitchi, Cristina (referee)
This bachelor thesis aims to assess the readiness of the Czech republic for acceptance of new currency - euro. For the assessment several points of view have been implemented (fulfillment of Maastricht convergence criteria, correspondence of Czech economy and the Euro Area economies, and also the state and development of public opinion. The thesis is divided into three parts. First part provides general information framework, which then serves as a platform for second part of the thesis, focused on the Czech republic, its economy and development. The final, third part of the thesis concentrates on public opinion research. Two surveys have been emplyed, the official statistics presented by Eurobarometer and also my own research.
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The theory of optimum currency area with application to the EU
Janíček, Jan ; Dočkal, Dalibor (advisor) ; Urban, Luděk (referee)
The goal of this work is to apply the theory of optimum currency areas in the euro area, and outline the positive and negative effects of monetary policy of the European Central Bank (ECB). Furthermore, it should highlight the benefits and risks arising from the entry of the Member States of the European Monetary Union (EMU) and the related macroeconomic implications. Start of work will be aimed at the theory of optimum currency area, which will be developed this issue from different angles, which is essential for the understanding of other contexts. Subsequently, work will be devoted to the European Union in terms of creation and development of the European Monetary Union and the ruling of the European Central Bank. The next section will explore the benefits and risks of the monetary union. In this context, the important concepts of transaction processing costs, exchange rates and costs of monetary union, but also increase inequality between richer and poorer regions, and others. In the final part of the work will focus on the macroeconomics effects of European monetary union, such as economic growth, inflation and unemployment.
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