Eurozone between optimality, viability and perennity

Philippe Vigneron

Institut d’Etudes européennes, Université libre de Bruxelles Chercheur associé au Ceric, Université Aix-Marseille

Summary : The Euro area cannot certainly be considered as an optimum currency area but is this determinant to propose to bring it to an end and to come-back to national cur- rencies ? The euro area showed that it could be considered as a viable monetary area as it exists since more than 15 years. The aim of this article is to know if it could be perennial and to do so on which bases its functionning could be enhanced.

Keywords : European Central Bank, economic and monetary union, euro area, optimum currency area.

JEL Classification : E52, E58.