BENDROJI VALIUTA EURAS: TARPTAUTINĖ REIKŠMĖ BEI PERSPEKTYVOS
COMMON CURRENCY EURO: INTERNATIONAL IMPORTANCEAND PERSPECTIVES

Summary/Abstract: The article presents the procecess of European integration, emphasizing the main moments of this process. The integration process of Europe, the result of which is foundation of European Union and latter the establishment of the European Monetary Union with common currency Euro, is one of the most significant processes, in the political and economic sense, during the whole history of Europe. Formally European Monetary Union exist since January 1, 1999, and Euro as cash started functioning in twelve states of EU since January 1, 2002. Adoption of Euro ended the 50 year lasting money integration process. Euro became the key axis of integration. In the contest of the international monetary system, formation of European Monetary Union with common currency is perhaps the most important event since the failure of the world monetary system that functioned on the basis of the Bretton Woods treaty. The historical assumptions of the European economic, the main syages up creation integration process, the main stages of creation of European Monetary Union and adoption of the Euro are discussed in the article. The European system of Central banks and principles of its monetary policy are discussed in the article. The international role of Euro, its increasing international weight during the pre-crisis period and its impact on economy of countries of European Monetary Union is analysed. The strategy of adoption of Euro in Lithuania and joining it the European Monetary Union with taking into account the experience of other countries is discussed. The present situation in the Euro zone, its problems and perspectives of the European Union and a single currency are discussed. The analysis shows that the European Monetary Union and a single currency will have long-term perspectives only if specific radical measures, especially in the spheres of monetary and fiscal policy of European Union, and closer integration between the countries are taken.

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