THE EURO AS ECONOMIC AND POLITICAL PROJECT AND THE EUROPEAN CRISIS

Univerzitet u Istočnom Sarajevu, Fakultet poslovne ekonomije Bijeljina, Bijeljina, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Abstract

In the essay we are following lucid analysis and argumentative critique of the euro and of the basic communitarian solutions, especially those solutions that concern the eurozone and the EU as a whole from the pen of G. Stiglitz. The goal is that the Eurozone as a monetary union of the European Union becomes functional, and the question is how? The euro, as an unfinished project, has become a threat to the European communitarian project because it has not secured the growth, integration and convergence of Eurozone members, but has enhancened unemployment and inequality. The euro has not only deepened the European crisis, but has become its generator. The failure of the euro is the result of the fact that economic integration is faster than political unification. The European monetary system can be reconfigured in several currency zones, and can also be abandoned in the interests of a united Europe.

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