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The European Economic and Monetary Union

The gains and costs are very important to uncover because the European Region is not the only region that is trying to implement the regional economic integration. The United States of America also has already implemented a regional economic integration. They manage to implement the usage of the US Dollar. This is similar to the situation in Europe because both of these hegemonic countries express many similarities. My paper shows that the European Region, alongside the United States of America has set a very good standard for the regional integration other regions are trying to achieve.
             Indeed, the standards are high when it comes to implementing a regional economic integration. But the fact that these two countries have already gone through the errors and made it work sets a perfect example for other regions to try and follow their footsteps. Blindsiding the fact that this is still a work in progress and there are still a lot of decisions to be considered, this is still a perfect road to economic progression.
             Precise Research Questions:.
             1. What are the qualifications for joining the European Economic and Monetary Union?.
             2. What are the gains and costs of joining the European Economic and Monetary Union?.
             3. What are the effects of adopting a single currency?.
             4. Is Europe effective as an optimum currency area?.
             Theoretical Approach.
             This paper used Liberal Inter-governmentalism theory. This theory states that the European integration policy making relies within the members of the European Union. The members themselves are the one who will be making and deciding policies. Members states are the ones who will either make the European Economic and Monetary Union work or fail. Member states are the key the regional economic integrations' progress because they are the ones who know what is right and wrong regarding the policies to which the Economic and Monetary Union stands.
             Qualifying for the European Economic and Monetary Union.


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