Impact of the euro adoption to less developed countries of the EU

This diploma thesis deals with the issue of impact of the euro adoption to less developed EU countries, namely the PIGS countries. The first part defines the Maastricht criteria and their fulfillment by those States before joining the euro area. In the other two parts is analyzed the evolution of macroeconomic indicators before and after the outbreak of the financial crisis. These are the indicators of inflation, current account and net investment positions, the housing market and private loans, public finance, GDP and unemployment. In conclusion, there is an evaluation of the development of the individual countries on the basis of these indicators, assessed the suitability of the Maastricht criteria and the benefits of integrating these countries into EMU both for them and for the euro area as a whole