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Europe In 2010: Ecomonic Monetary Union

Part 1 of Paper
....t 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 bank and legal obligations on the participating Member States to pursue sound economic policies and to coordinate these policies very closely.....

Part 2 of Paper
....ments of its objectives. The strong demand for euro-area exports from industrial countries at more advanced stages of the business cycle and the depreciation of the currencies of euro area countries over the past four years fostered a strengthening of 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 an....

Number of words: 1856 - Approximate pages: 7

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