EUROPEAN MONETARY POLICY
EUROPEAN MONETARY POLICY

Summary/Abstract: This paper analyses the impact of the monetary policy of the European Union (EU)focusing on key instruments and strategies, and the challenges that the monetary policy of the EU faces, including the divergent economic performance of the member states, the lack of a fiscal union and the impact of global economic events. Through a theoretical review, the efficiency of the current policies is considered, as well as perspectives for future development, including the possibility of improving the coordination of monetary policy within the EU and its relationship with other global economic players. This paper also analyses the EU’s aspiration towards the creation of a common market and the introduction of a common currency – the euro – as a central pillar of economic integration. The impact of the single currency on price stability, competitiveness and trade flows within the EU is also studied, as well as the advantages and disadvantages of the Eurozone, especially in the light of recent economic crises. Finally, analysing the theoretical and practical experiences so far, the perspectives for the future of the European monetary policy and possible reforms aimed at strengthening the economic integration and stability of the Eurozone are considered

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