Processes of monetary integration – the Greek crisis and its influence on the European Union

Marianna Greta () and Ewa Tomczak-Wozniak ()
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Marianna Greta: Lodz University of Technology
Ewa Tomczak-Wozniak: Lodz University of Technology

Ekonomia i Prawo, 2014, vol. 13, issue 1, 121-134

Abstract: Meeting of the convergence criteria adopted in the Maastricht Treaty allows to ensure the stability of the zone and to increase its position in the international arena. For this to happen, achieving of the required level of convergence must be long-term and based on sound evidence. Greece when it joined the Eurozone has much abused the trust of the European Union (EU) authorities when using false data it secured its place among the other holders of the Euro currency. The intention of the paper is to present basing on the example of Greece, the importance of compliance with the convergence criteria imposed by the European Union, and its purpose is to analyze the causes of the Greek crisis and its impact on the functioning of the Eurozone and the EU.

Keywords: monetary integration; Greek crisis; Eurozone (search for similar items in EconPapers)
JEL-codes: E65 E66 O52 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkeip:v:13:y:2014:i:1:p:121-134

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