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Published in:
2014 | OriginalPaper | Chapter
Business Cycles Synchronisation between the European Monetary Union and Poland
Authors : George Filis, Steve Letza
Published in: Poland and the Eurozone
Publisher: Palgrave Macmillan UK
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The recent experience in the European Monetary Union (EMU) with the debt crisis and its repercussions has revealed the fragility of the common currency area. Some argue that countries like Greece and Portugal should not have joined in the first place as their economies where not aligned with the European economies. Thus, one aspect of the debate on monetary union centres on the readiness of a country to join the EMU. One criterion that many bring forward as an indication of this readiness is the business cycle synchronisation between the country and the EU-wide cycle.