Numizmatičke Vijesti, Vol. 63 No. 74, 2021.
Izvorni znanstveni članak
Economic and Monetary Union – A Solution for all European Union Member States
Branko Matić
orcid.org/0000-0002-4495-9059
; Osijek, HR
Sažetak
The article addresses the issue of circulating coins of the EU member states that
use their national currency as legal tender (member states with a derogation), from
the aspect of how these circumstances affect the obligation to introduce the common
currency. In 2021, these were Bulgaria, Croatia, Czech Republic, Denmark, Hungary,
Poland, Rumania and Sweden. In accordance with the Founding Treaties of the EU, the
member states of this association have the obligation (with two exceptions) to introduce
the common EU currency – the euro, at the moment when they meet conditions to do
so. This way of regulating EU monetary sovereignty implies that this community at
present has nine different currency areas. The largest currency region is the Eurozone
with a common currency, and it consists of nineteen EU member states, and there are
also eight currency regions (states) that use their national currencies. The member states
with a derogation have the obligation to fulfil their commitments with respect to joining
the economic and monetary union as the highest level of integration. These activities
are evaluated at least every two years, or on demand of a member state with derogation.
The monetary solutions concerning the circulating coins in the EU states with national
currency are different from the regulation in the Eurozone. In the first place this
refers to managing this currency, but also to numismatic aspects of their issuing and
the tradition of particular countries. This state of affairs also influences the process of
introducing the common currency in these countries.
The common circulating coins in the EU are the euro and its hundredth part, the
euro cent. This currency is legal tender in all the states that introduced it and they make
up the Eurozone. Each country that issued these coins independently regulated their
obverse, while the reverse is common. The circulating coins are still, although noncash
payment is increasing, a very present and important form of payment, especially in
some communities.
Through analysing the denominations of the currency in each state that uses the
national currency, the material used to produce it, the time when these denominations
were issued and their market value, the author concludes about the monetary policies
concerning the circulating currency in these states and how they will be reflected on
accepting the common currency.
The article also gives a survey of the more important monetary unions in history
and the basic specifics of the monetary solutions in the EU.
Ključne riječi
Hrčak ID:
275819
URI
Datum izdavanja:
20.12.2021.
Posjeta: 699 *