Euro
myth and reality
DOI:
https://doi.org/10.60054/PEU.2025.12.25-37Keywords:
euro, global currency, economic and monetary union, Euro Area enlargement, economic governanceAbstract
Last year the Euro turned 25. In this work, we discuss future opportunities and challenges for the use of the euro at three levels. First, taking stock from the Euro Area (EA) achievements in the global rivalry, we summarize the euro’s international role and its potential to replace the American dollar as the currency of choice. Second, the paper highlights controversy between the catalytic role of the euro for further economic integration in Europe in an environment of global market and political fragmentation and its use as a political symbol. Based on the findings, we discuss the need Bulgaria as an EU member to strengthen its economic governance in response to challenges.
JEL Classifications: E020, F31, F33, F65, F360, H1
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