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European common curency outside the Euro zone and fixed exchange rates vs. Euro: economic and legal aspects

Author

Listed:
  • Pawel Folfas

    (Warsaw School of Economics)

  • Magdalena Slok-Wodkowska

    (Warsaw School of Economics)

Abstract

On January 1, 1999, the euro came into existence as a European common currency (currency of Economic and Monetary Union). Additionally, the euro has become legal tender in states and countries outside the euro zone. In Europe, San Marino, the Vatican, Monaco and Andorra have adopted the euro. With the introduction of the euro, it was necessary to redefine monetary relations with those countries which had no national currency but which used the former national currencies of Member States of the euro zone.

Suggested Citation

  • Pawel Folfas & Magdalena Slok-Wodkowska, 2011. "European common curency outside the Euro zone and fixed exchange rates vs. Euro: economic and legal aspects," Ekonomia i Prawo, Uniwersytet Mikolaja Kopernika, vol. 7(1), pages 371-390, December.
    • Handle: RePEc:cpn:umkeip:v:7:y:2011:i:1:p:371-390
    DOI: 10.12775/EiP.2011.023
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    References listed on IDEAS

    as
    1. Reinhart, Carmen, 2002. "A Modern History of Exchange Rate Arrangements: The Country Histories, 1946-2001," MPRA Paper 13191, University Library of Munich, Germany.
    2. Ms. Anne Marie Gulde, 1999. "The Role of the Currency Board in Bulgaria's Stabilization," IMF Policy Discussion Papers 1999/003, International Monetary Fund.
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    More about this item

    Keywords

    euro; Monetary Union; euroization process;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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