Maastrichtská kritéria a jejich kritika
Maastricht Criteria and their Criticism

Author(s): Tomáš Búry
Subject(s): Financial Markets
Published by: AMO – Asociace pro mezinárodní otázky
Keywords: Maastricht Criteria;
Summary/Abstract: The first efforts for a common monetary policy within the European Union date back to the end of the 1960s. With the gradual economic convergence and the improvement of the common internal market, the early ideas took on a concrete image. After an unsuccessful attempt to link individual currencies with fixed oscillation bands, it was possible to establish a common currency unit, the euro. The Bank of England's significant losses sustained as a result of speculative attacks on the pound strengthened British distaste for the single currency, leading to Britain opting out of the Eurozone. Later, Denmark also claimed an exemption, and it is de facto also held by Sweden, where the citizens rejected the euro in a referendum. For other countries, the obligation to adopt the euro applies, as they committed to this in the accession treaty.

• Details
• Contents