Part one of term paper
The advent of the new European Monetary Union (EMU) is quite fascinating. The history that has led up to the events that are occurring today is intriguing as well. History is in the making! The are many details involved in this process. There has never formally been anything like the system that is ready to be put in place. To put it in ...

Part two of term paper
... in standard economic models?" According to Krugman, we do not yet fully understand the role of currencies in the world economies. Therefore, it is worthwhile and important to gain a better understanding of the elements involved in such a monumental transition and the ramifications of its establishment. In the ensuing paragraphs we intend to show the progression of events leading up to the construction of the EMU; the emergence, objectives and tasks of the new system of central banking (forma ...