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Trends in the European Monetary Union. An Overview

Author

Listed:
  • Papageorgiou Christos
  • Anastasiou Athanasios
  • Liargovas Panagiotis

Abstract

Four indicators corresponding to the four targets of the European Monetary Union were calculated. The study showed that: (a) concerning the deviation of state’s general government deficit/surplus from 3% of gross domestic product (GDP), all member states had reached their target, with the exception of Cyprus, which was slightly under the target, (b) concerning the deviation of state’s general government debt from 60% of GDP, half of all European Union (EU) member states did not reach their targets, and there was a lot to be done, especially from the EU15 member states, (c) concerning the deviation of state’s inflation rate from the mean of the three states with best results of +1.5%, it was observed that the average value of EU28 member states had reached the final target, mainly due to the performances of the EU15 member states, (d) and concerning the deviation of state’s interest rate from the mean of the three states with the best results of +2%, it was observed that the average value of EU28 member states had reached the final target.

Suggested Citation

  • Papageorgiou Christos & Anastasiou Athanasios & Liargovas Panagiotis, 2024. "Trends in the European Monetary Union. An Overview," Global Business Review, International Management Institute, vol. 25(5), pages 1244-1268, October.
    • Handle: RePEc:sae:globus:v:25:y:2024:i:5:p:1244-1268
    DOI: 10.1177/09721509211016192
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    References listed on IDEAS

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    1. André Szász, 1999. "The Road to European Monetary Union," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-59947-5.
    2. Ngo Thai Hung, 2021. "Volatility Behaviour of the Foreign Exchange Rate and Transmission Among Central and Eastern European Countries: Evidence from the EGARCH Model," Global Business Review, International Management Institute, vol. 22(1), pages 36-56, February.
    3. Troy Lorde & Antonio Alleyne, 2018. "Estimating the Trade and Revenue Impacts of the European Union–CARIFORUM Economic Partnership Agreement: A Case Study of Barbados," Global Business Review, International Management Institute, vol. 19(5), pages 1129-1151, October.
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