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Processes of monetary integration – the Greek crisis and its influence on the European Union

Author

Listed:
  • Marianna Greta

    (Lodz University of Technology)

  • Ewa Tomczak-Wozniak

    (Lodz University of Technology)

Abstract

Meeting of the convergence criteria adopted in the Maastricht Treaty allows to ensure the stability of the zone and to increase its position in the international arena. For this to happen, achieving of the required level of convergence must be long-term and based on sound evidence. Greece when it joined the Eurozone has much abused the trust of the European Union (EU) authorities when using false data it secured its place among the other holders of the Euro currency. The intention of the paper is to present basing on the example of Greece, the importance of compliance with the convergence criteria imposed by the European Union, and its purpose is to analyze the causes of the Greek crisis and its impact on the functioning of the Eurozone and the EU.

Suggested Citation

  • Marianna Greta & Ewa Tomczak-Wozniak, 2014. "Processes of monetary integration – the Greek crisis and its influence on the European Union," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 13(1), pages 121-134, March.
    • Handle: RePEc:cpn:umkeip:v:13:y:2014:i:1:p:121-134
    DOI: 10.12775/EiP.2014.010
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    References listed on IDEAS

    as
    1. Ms. Florence Jaumotte & Piyaporn Sodsriwiboon, 2010. "Current Account Imbalances in the Southern Euro Area," IMF Working Papers 2010/139, International Monetary Fund.
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    More about this item

    Keywords

    monetary integration; Greek crisis; Eurozone;
    All these keywords.

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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