Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
WorldJanuary 2 2013

The euro: a path worth taking?

The eurozone's troubles of the past few years have meant that the headlines have been dominated by those countries deemed likely to leave the currency union. However, there are EU members that still wish to sign up to euro membership. The question is, why?
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
The euro: a path worth taking?

It is easy to forget that discussing the eurozone without adding the now inevitable 'crisis' suffix was ever a reasonable possibility. It is easy too, to overlook the fact that back in the buoyant founding years of the economic and monetary union, membership was a coveted prize for bright-eyed, new EU members, and one for which policy-makers would gladly forsake their native currency as quickly as possible. 

But back then, the euro was not invoked as a phantasm to spook those who might rush into an ill-conceived and poorly integrated monetary union. Nor was its financial situation and uncertain future a constant source of concern for politicians, bankers and economists across the globe. Instead, a spot in the largest currency union ever attempted lent participants a certain degree of credibility as part of a stable, continent-wide monetary regime.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial