Implications of the Euro adoption in the EU countries. Case study: Slovakia vs Slovenia

Abstract

The European integration process continues to amaze both its supporters and critics, this recording a too fast rhythm for some states and too slow for others. This process of integration becomes very important for the 500 million people directly involved but also because Europe accounts for a quarter of the world economy, half of world trade and one third of global capital markets, the European integration influencing life of most of the non-Europeans. The purpose of this paper is to provide an accessible presentation of the events afferent to this process to better understand the reasons that led to the introduction of the euro, the existing theories and controversies, my approach being based on economic principles, since the process started with the economic integration even since 1948, when the European Organization for Economic Cooperation was established. But the economy does not mean everything, so I will analyze also political, cultural and historical factors.