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European currency after Greek crisis
Martinek, Petr ; Loužek, Marek (advisor) ; Vlček, Josef (referee)
This thesis describes the current state of the European Monetary Union. Special attention is paid to the development of the recent debt crisis which revealed many weaknesses of the EMU. This paper analyses these problems and suggests some solutions. It explains causes and consequences of the debt crises and concludes with prospects for the future development of the Monetary Union.
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European Economic Governance: An Option or The Necessity?
Vlach, Michael ; Urban, Luděk (advisor) ; Debnárová, Ľubica (referee)
Bibliografický záznam VLACH, Michael. Evropské ekonomické vládnutí - možnost nebo nutnost? Praha, 2011. 95 s. Diplomová práce (Mgr.) Univerzita Karlova, Fakulta sociálních věd, Institut mezinárodních studií. Katedra západoevropských studií. Vedoucí diplomové práce Prof. Ing. Luděk Urban, CSC., Jean Monnet Professor Abstract Diploma Thesis "European Economic Governance - an option or the necessity?" deals with the current debate on the reform of European economic governance (EEG). It focuses on the genesis of the pre-crisis European economic governance, primarily on the Economic and Monetary Union, and on the performance of the EMU and the features of EEG before and during the crisis. It investigates the issues and challenges that arisen largely from the aftermath of the crisis such as imbalances on the Internal Market due to serious competitiveness issues between the Member States, lack of crisis management, financial supervision etc. The common cause of these problems, the insufficient economic governance is identified having source largely in the original design of EMU which was adopted largely for economic reasons but contemporary political limits restrained the Economic union and macroeconomic coordination provisions thus enabling the current situation. In the final part the proposed and implemented...
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Multi-speed European Union and its impacts on Slovakia
Stanová, Zuzana ; Sršeň, Radim (advisor) ; Dubský, Zbyněk (referee)
Multi-speed European Union is a very up-to-date topic especially in terms of the finance and debt crisis, which deepened the differences between member states' economies. Multi-speed integration is one of the ways how to satisfy the claims of all member states, respect their different socioeconomic conditions and interests and at the same time not to disturb the integration process. The objective of this thesis is to introduce the concept of multi-speed integration from different theoretical points of view, to outline its historical development and assess its positive and negative impacts on the EU as a whole and on Slovakia. The analysis of impacts of the Economic and Monetary Union's multi-speed character on Slovakia is the key part of this thesis. These impacts on Slovakia are both positive and negative, but some of them cannot be categorized in general. In the aggregate the positive impacts prevail.
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Analysis of real convergence of selected new member countries of the Eurozone
Polakovič, Martin ; Vostrovská, Zdenka (advisor) ; Misic, Viktorija (referee)
This diploma thesis deals with the problem of real convergence of new member countries of the Eurozone. Development in recent years in Europe has clearly shown that monetary union is suitable only for homogenous group of countries. The main aim of the thesis is to analyze the progress of convergence in Slovakia, Slovenia and Estonia after the year 2000 and answer the question which country was best prepared to join the monetary union. Used method of investigation is analysis of historical time series and regression analysis. Main conclusion of the thesis is that highest level of convergence was achieved in Slovenia, but the country with lowest cost of joining Eurozone was Estonia. In final part of the thesis is presented own forecast of future development of real convergence until the year 2030. Theoretical background of the prognosis is based on Solow's growth model and resulting theory of convergence.
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Legal Framework of Monetary Stability in the Euro Area
Svobodová, Lenka ; Moravec, Tomáš (advisor) ; Patočka, Radim (referee)
"Legal Framework of Monetary Stability in the Euro Area" describes the effort of Economic and Monetary Union to maintain the monetary stability economically and legally. The first chapter is dedicated to the European union legal order and to developement of European Monetary Union. The second chapter apply of maintaining of monetary union, that means economic convergence, coordination of tax systems and monetary policy of European Central Bank. The last chapter analyses statistics of member states of European Union.
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Analysis of the State of preparedness of the Czech republic for the adoption of the unified European currency.
Klumparová, Adéla ; Čajka, Radek (advisor) ; Bolotov, Ilya (referee)
This Bachelor's thesis " Analysis of the State of preparedness of the Czech republic for the adoption of the unified European currency " examines with the accession of the Czech Republic to the euro area. In the first chapter the reader is familiar with the historical development of European monetary integration. This part is followed by The integration of the Czech Republic to this monetary Union and its commitment to adopt the euro as enshrined in the Maastricht Treaty in the second charter. The third chapter is focused on the nominal convergence criteria and on the achieved degree of their fulfilment by the Czech Republic. The next part of the thesis contains comprehensive analysis of the State of preparedness of the Czech republic for the adoption of the unified European currency. This state is evaluated in terms of the structural similarities and economic synchronisation of the Czech economy with the economy of the eurozone, and also in terms of the ability of the economy to a the effects of asymmetric shocks arising after the Czech Republic's entry into the Monetary Union. This chapter is focused on the evaluation of the cyclical and structural harmonisation of the Czech Republic with the countries of the euro area and on the existence and function of the adjustment mechanisms. Attention is focused also on the positives and negatives arising from the accession of the Czech republic to the euro area, which are demonstrated on the example of the Slovak Republic.
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The convergence process of the Czech Republic to European monetary union
Kutinová, Hana ; Mandel, Martin (advisor) ; Skoupil, Lubomír (referee)
The aim of this thesis is to evaluate the convergence process of the Czech Republic. The thesis describes the historical background of the Treaty on European Union and the criteria for adopting the euro are described in detail. The convergence process of the Czech Republic is viewed from the perspective of a nominal convergence (inflation rates, government finance, exchange rates, long-term interest rates) as well as a real convergence (measured by GDP per capita in purchasing power parity). Further, the attention is paid to the institutional framework of fiscal policy of the Czech Republic. Indicators of economic harmonization are also analyzed, such as the business cycle, interest rates, exchange rates and stock indices. The comparative method is used to evaluate -- development indicators are compared over time and with countries in a similar position with the Czech Republic.
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The theory of optimum currency areas and the entry of the Czech Republic into the EMU
Vála, Vladimír ; Koderová, Jitka (advisor) ; Kučera, Lukáš (referee)
The aim of this bachelor thesis is to determine, whether the Economic and Monetary Union fulfills criteria of optimum currency area, to evaluate the nominal and real convergence of the Czech Republic to EMU and to assess benefits and costs resulting from the implementation of common currency in the Czech Republic. I present basic criteria of optimum currency area and I try to find out whether they are met within the EMU. There are three economic criteria, three political criteria, the criteria of alignment of the business cycle, and also to mention Brown's tests and criteria of Václav Klaus. It also analyses whether the Czech Republic meets the Maastricht (nominal) convergence criteria and the extent to which is achieved real convergence. The benefits and costs associated with membership in the European Monetary Union for the Czech Republic are described in the conclusion.
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