Euro w systemie międzynarodowym i potęga monetarna Unii Europejskiej
The Euro in the International System and the Monetary Power of the EU

Summary/Abstract: Despite universal criticism, there is fundamental continuity in the functioning of the European Monetary Union (EMU) before and after the 2007 crisis. Although the severity of the European recession provoked national and European Union policymakers to remodel the euro-area management framework, thus altering substantially the political dimension of the EMU, the international role of the euro has remained solid. In this vein, this article addresses the puzzling issue of the ongoing medium- to long-term creation of monetary power in the EU. Yet, the article suggests that although the consequences of the crisis are profound, they reinforce rather than reduce the weight of monetary power of the EU as a feature of Europe’s role in world affairs.

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