From the Firm to Economic Integration
Chapter 11: A competitive approach to monetary integration
For the time being, the euro is the legal currency in 17 countries of the eurozone. These countries joined the eurozone at different dates, but they all had to comply with the “Maastricht criteria” before they could perform the great jump consisting of replacing overnight their national currency with the European currency. As some other countries may be considering the opportunity to join the eurozone, it may be useful to evaluate the official path to monetary integration that has been used in the past by present members of the eurozone (Section 1).
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