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Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area
Žáček, Ondřej ; Vybíral, Roman (referee)
Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area Abstract The thesis answers a number of questions related to the entry of the Czech Republic into the euro area. The basic premise is that joining the euro area does not consist only in changing of the national currency, but it must be perceived more comprehensively as a transition to the third stage of the Economic and Monetary Union which has been undergoing dynamic development at the institutional level. The main conclusions of the thesis are as follows. The traditional Maastricht convergence criteria, as they are explicitly formulated in primary law, cannot be regarded as the sole conditions for entry into the euro area. Non-legal aspects are also relevant when the fulfilment of these criteria is assessed by the European Commission and the European Central Bank. In addition, several new institutions such as the Banking Union or the European Stability Mechanism have been established in the euro area, but are not taken into account by the Maastricht convergence criteria. This also confirms that entry into the euro area cannot be reduced to a mere change of the national currency. Another important conclusion is that entering the ERM II exchange rate mechanism, which is necessary to meet one of the convergence criteria, is not...
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Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area
Žáček, Ondřej ; Kohajda, Michael (advisor) ; Karfíková, Marie (referee) ; Papoušková, Zdenka (referee)
Legal and Economic Aspects of the Entry of the Czech Republic into the Euro Area Abstract The thesis answers a number of questions related to the entry of the Czech Republic into the euro area. The basic premise is that joining the euro area does not consist only in changing of the national currency, but it must be perceived more comprehensively as a transition to the third stage of the Economic and Monetary Union which has been undergoing dynamic development at the institutional level. The main conclusions of the thesis are as follows. The traditional Maastricht convergence criteria, as they are explicitly formulated in primary law, cannot be regarded as the sole conditions for entry into the euro area. Non-legal aspects are also relevant when the fulfilment of these criteria is assessed by the European Commission and the European Central Bank. In addition, several new institutions such as the Banking Union or the European Stability Mechanism have been established in the euro area, but are not taken into account by the Maastricht convergence criteria. This also confirms that entry into the euro area cannot be reduced to a mere change of the national currency. Another important conclusion is that entering the ERM II exchange rate mechanism, which is necessary to meet one of the convergence criteria, is not...
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Adoption of the Euro in the Czech Republic
KLÁSKOVÁ, Lucie
The bachelor's thesis introduces the issue of the theoretical adoption of the Euro in the Czech Republic to which the country was undertaken in the process of accession to the European Union in 2004. There is not fixed date for joining the Euro Area yet, despite meeting part of requirements in the past. The presumption of Euro acceptance is the government decision and to fulfil the criteria. The main aim is to give a detailed description of the process of the switching to the Euro Area with all economic and legal aspect. The thesis describes the history of the Economic and Monetary Union, its current situation, scenarios of adoption and national plan. There are answered the issues of when and how it will be the most profitable way to adopt the Euro and what are the main benefits and risks. In conclusion, there is described and analysed the process of fulfilment of the Maastricht convergence criteria and amendment arising from the transition to the single currency.
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Připravenost České republiky k přijetí eura
Zárubová, Jana
The main aim of this bachelor thesis is to evaluate the Czech Republic's readiness to adopt the euro. Within this objective, the concept of monetary union, the European Central Bank, is explained and describes the historical development that was behind the emergence of the eurozone. It also discusses the advantages and disadvantages of adopting the euro. The readiness to adopt the euro is assessed using the nominal and real convergence criteria, which are first theoretically characterized and subsequently evaluated using the available data. The last chapter deals with the opinion of citizens of the Czech Republic and representatives of the current and past governments of the Czech Republic, who are interested in adopting the euro
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Integrace Litvy do eurozóny a její dopady na ekonomiku a veřejné mínění
Kachlíková, Eva
This thesis focuses on the political journey of Lithuania into the Euro area and examine the short-term domestic economic impact of the euro adoption in Lithuania. The theoretical part defines the development of Lithuania in the framework of regional cooperation and deals with the fulfilment of the Maastricht convergence criteria. These criteria define the readiness of the entry of Lithuania into the euro area. The practical part deals with interpretation of economic indicators in the Republic of Lithuania. Furthermore, this bachelor thesis uses a public survey. The aim of this part is to compare the expectations of the people with real economic impact. The data have been obtained from the public survey of Eurobarometer under the auspices of the European Commission.
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Czech national bank, legal status and content of activity
Semecký, Petr ; Bakeš, Milan (advisor) ; Kohajda, Michael (referee) ; Karfík, Zdeněk (referee)
disertační práce Petr Semecký Česká národní banka, právní postavení a náplň činnosti 5 Abstract A. Objectives The main goal of the dissertation "The Czech National Bank, legal status and content of activity" is to quantify, qualify and draw as exact as possible conclusions about some aspects of the development, status and activities of the Czech National Bank in the future. To solve this task, the author has used in the introduction of this work three following key questions: 1. What are the implications for the Czech National Bank of the new bodies supervising the financial markets at european level? 2. What are the benefits and negatives of adopting the euro for the Czech Republic and should the Czech Republic actually join the European Monetary Union? 3. What impact will have the amendment of the Capital Adequacy Directive (the "Basel II") on the activities of the Czech National Bank? B. Methods By creating this work was used a wide range of research methods to ensure that there will be drawn conclusions with the best possible informative value. It is possible to mention particularly the method of recherche, abstraction, comparison and synthesis. C. Sources As the most important sources used by creating the work can be mentioned ecpecially, scientific publications, monographs, articles published...
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The analysis of the convergence criteria
Poul, Milan ; Kopecká, Lenka (advisor) ; Jitka, Jitka (referee)
This thesis deals with changing over to a new currency (euro) in the Czech Republic. The theoretical part focuses on the information about European integration and the establishment of the economic and monetary union. Further it explains Maastricht convergence criteria and finally summarizes the key milestones of integration of the Czech Republic into the EU. The practical part is devoted to the realization of the objectives of this thesis. The main objective deals with analysis of the convergence criteria in the Czech Republic. Secondary objects of this thesis solves the effect of adoption the euro for one thing on economic entities (consumers, companies and government) and for another the main changes in the activities of the Czech National Bank.
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Analysis of nominal and real convergence of the Visegrad Group states
Černý, Robert ; Ševčíková, Michaela (advisor) ; Štípek, Vladimír (referee)
The aim of the submitted thesis is macroeconomic analysis, comparison and evaluation of nominal and real convergence of the Visegrad Group states with EU-15 states. By the help of regression model, one can state that in years 2004--2008 countries of V4 reached Beta - convergence with EU-15. However, this did not hold for the critical period in 2008--2012 when mainly Hungary lagged behind. There was proved a positive relationship between real and nominal convergence wherewith Balassa-Samuelson Effect for EU states was confirmed. The Czech Republic has always shown a lower nominal value than it would correspond to its GDP per capita, still it approximated to regression line over time. Other V4 states registered inverse course. During period 2004--2012, the Czech Republic performed Maastricht conver-gence criteria best from V4 states. Contrariwise, Hungary had the worst position of the ob-served period.
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Analysis of long-term development of the exchange rate policy of the Czech Republic
Blažková, Kristýna ; Plchová, Božena (advisor) ; Nigrinová, Lenka (referee)
The aim of this bachelor thesis is to analyze a long-term development of the exchange rate policy of the Czech Republic. The first part considers definitions of exchange rate regimes and its application, advantages, risks and role of the central bank which controls the exchange rate policy. The next three parts are dealing with the history of the Czechoslovak crown and then of the Czech crown until the year 2004, when Czech Republic joined the European Union. The last part considers planned entry of the Czech Republic in the euro area. The level of preparedness for entry is considered by success in compliance with the Maastricht criteria.
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The Journey of Czech Crown into eurozone
Sýkora, Filip ; Plchová, Božena (advisor) ; Hanzlíková, Helena (referee)
The target of this Bachelor's Thesis is to evaluate if the Czech republic is ready to accept the unified european currency euro, to analyse the ability of the Czech republic in fulfilling of the Maastricht convergence criteria and to assess whether the national economics is ready enough to enter the eurozone. In the first part of the Thesis is a brief description of formation of the united european monetary union. The second part is focused to fulfilling of the Maastricht convergence criteria by the Czech republic and its detailed description. And in the third part there is evaluated the real readiness for convergence to the united european currency of the czech economics is evaluated.
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