The Effects of the Crisis on Euro Area Member Countries
The Effects of the Crisis on Euro Area Member Countries

Author(s): Júlia Ďurčová, Ľudmila Bartóková
Subject(s): Economy, Supranational / Global Economy
Published by: ASERS Publishing
Keywords: crisis effects; Euro Area countries; labour market; labour force; econometric model;
Summary/Abstract: When the project of monetary union among European countries was being prepared it was not expected that Europe would be hit by such severe crises as occurred few years ago. “Shortcomings”of the euro area were well known even at the beginning, as well as the fact that future EMU countrieswere far from being the optimum currency area. However, it was not anticipated it would be necessary to address these issues and existing asymmetries in such a short time. Even after more than a decadea position of certain countries, especially of so-called former transition economies can be still described as a lagging. What is more, differences and asymmetries can be found also in the group of “founder”countries, or EMU core countries, as they are often called.

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