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Beginning of Paper
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Europe In 2010: Ecomonic Monetary Union
Economic and Monetary Union (EMU) is a single currency area within the European Union single market in which people, goods, services and capital move without restrictions. It creates the framework for economic growth and stability and is underpinned by an independent central ....
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Middle of Paper
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.... growth in the euro area and helped to offset the effects of the Asian crisis.
There are also challenges for EMU in the global economic environment:
- The crisis in Asia and other emerging market economies could produce adverse spillover effects and make the monetary policy more difficult to carry out.
- The continuation of the crisis could result in weakening of the external demand, which, in turn, could dampen confidence and domestic demand.
- The financial market volatility could increase the uncertainty in assessing the economic indicators.
- The economic c ....
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