The benefits and the costs of the common European currency and the following analysis of the current situation of the European Monetary Union

The topic of my bachelor's work is the benefits and the costs of the common European currency and the following analysis of the current situation of the European Monetary Union. The first part deals with possible benefits and costs which are brought about by introduction of the common currency. In the second part I am trying to analyze whether the European Union meets expectations for optimum currency areas and whether the benefits from introduction of the common currency exceed its costs. At the end of this part I evaluate current economic development of Eurozone and several West-European countries which have not accepted the euro. I apply two basic economic aggregates inflation and GDP. The aim of this work is to point out possible benefits but also costs as a result of forming a monetary union. I would like also to outline whether the European Monetary Union has optimum currency area characteristics