The Euro Currency free essay sample

Describes the economic steps which have already been initiated toward creating a unified European currency. Then details the economic and political events of the past few months which have clouded the Euros future. Introduction In recent weeks there has been increasing speculation that the movement towards a single currency in the European Monetary Union (EMU) will be delayed or even abandoned (Kamm and Steinmetz, 1997). The purpose of this analysis will be to first describe the economic steps which have already been initiated, both individually and collectively. By the member-states of the European Union to create a common currency. The discussion will then detail the economic and political events of the past few months which have cast an increasing cloud over the likelihood of a Euro-currency in the near future. The presentation will conclude with some speculations on the probabilities for a common currency in the longer term as well as summarize the inherent difficulties of economic management