Reverse the road: From European Monetary Union to Euroization

Alban Mathieu and Pierre Funalot ()
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Alban Mathieu: Kedge Business School [Talence]
Pierre Funalot: BSE - Bordeaux sciences économiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UR Religion, Culture et Société - ICP - Institut Catholique de Paris (ICP), ACT - Analyse des Crises et Transitions - LABEX ICCA - UP13 - Université Paris 13 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité - Université Sorbonne Paris Nord - Université Sorbonne Paris Nord

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Abstract: Euroization is considered as a solution for transition economies or as a step toward later integration into the Economic and Monetary Union (EMU). This article seeks to challenge this conventional trajectory by arguing that a country already participating in the EMU could opt for euroization. Instead of adopting a binary analysis of pros and cons, a moderate perspective is employed, taking into account the specific institutional setup of Eurozone member countries. The aim of this article is to underscore the potential advantages of euroization, positioning it as a strategy that, though limited, can provide greater fiscal policy space.

Date: 2024-08-07
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Published in Global Policy, 2024, 15 (5), pp.1015-1024. ⟨10.1111/1758-5899.13420⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05787539

DOI: 10.1111/1758-5899.13420

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