Abstract
The article examines the benefits and risks of the euro adoption for the Czech Republic. In the last decade, in the light of structural problems of the economic and monetary union of the European Union and the Czech euroscepticism that has intensified against this background, the problem has become more of political nature and one of burning issues in relations between the Czech Republic and the EU. The paper analyzes the benefits and risks of such a decision. Special attention is paid to political factors – starting from the possible membership in the EMU institutions and ending with the potential overall improvement of relations with the leading countries of the EU. The authors conclude that from an economic point of view, the eurozone membership is beneficial for the Czech Republic if the level of labour productivity increases before the adoption. However, this issue presents the problem of the overall geopolitical orientation of the Czech Republic, which has to choose between striving to get into the «core» of the integration or the relentless defense of its national sovereignty within the European Union.
Highlights
the Czech euroscepticism that has intensified against this background
the problem has become more of political nature
Special attention is paid to political factors
Summary
В последнее десятилетие в свете структурных потрясений европейского Экономического и валютного союза (ЭВС) и усилившегося на их фоне евроскептицизма проблема приобретает всё более острый характер и становится одной из наиболее актуальных для отношений между Чехией и ЕС. Ещё при зарождении евро Милтон Фридман и Роберт Манделл спорили о перспективах такой общей зоны, состоящей из столь разных европейских экономик. М. Фридман, родоначальник чикагской школы, утверждал, что они подвергаются разным внешним шокам и нуждаются в различной кредитноденежной политике, а потому евро не так выгодно, как представлялось в период «Великого успокоения». Формировалась современная теория оптимальных валютных зон, описывающая последствия принятия общей валюты для торговли, инфляции, сопротивляемости внешним шокам и кредитно-денежной политики государства. Проблема выгод и недостатков принятия евро требует междисциплинарного подхода, так как многие последствия вступления в еврозону лежат в плоскости политических интерпретаций.
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