Analýza dopadov prijatia eura na Slovensku v kontexte geopolitického systému Prečítať

ANALYSIS OF THE CONSEQUENCES OF THE EURO ADOPTION BY SLOVAKIA IN THE CONTEXT OF GEOPOLITICAL SYSTEM

Radoslaw Kupczyk

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Politické vedy, Volume 19, Number 4/2016, pages 76-92

Odporúčaná forma citácie článku / Recommended form for quotation of the article:

KUPCZYK, R. 2016. Analysis of the Consequences of the Euro Adoption by Slovakia in the Context of Geopolitical System. In Politické vedy. [online]. Roč. 19, č. 4, 2016. ISSN 1335–2741, s. 76-92. Dostupné na internete: <http://www.politickevedy.fpvmv.umb.sk/archiv-vydani/2016/4-2016/radoslaw-kupczyk.html>.

ABSTRACT

The monetary union in Europe may be treated as a specific example of the international system, which is applicable in monetary relations. The creation of Eurozone was a political decision, taking shape over several years in a grand bargain. The purpose of this article was to analyse the relationship between the political and economic system during the crisis of the common currency. This applies above all to monetary system in Europe, where the interactions between politics and the economy are very visible. In this context, the consequences of the adoption by Slovakia of the single currency were presented. The paper was based on the theory of optimal currency areas and the theory of convergence. The strengthening of inter-governmentalism and hierarchy between Member States supports the improvement of controllability and management. However, the competition for leadership was a potentially destabilising factor. Analysis of selected Slovak economic indicators showed that despite the problems caused by the crisis in 2009, the adoption of a common currency did not result in a significant price increase or other negative economic phenomena in the longer term.

Key words:  geopolitics, Optimal Currency Area, convergence, political system of Euro zone, competitiveness of economy, economic growth