YAKLAŞAN AVRUPA BİRLİĞİ PARASAL BİRLİĞİ SÜRECİNDE `GÜÇLÜ`VE `ZAYIF`EURO`NUN ETKİLERİ

This study discusses what kinds of economic and political effects the cases of both a `hard` and a `soft` Euromoney could have on Europe, and what kinds of ec- onomic or political advantages or risks they could bring. Having a stable currency, Monetary Union can lead to economic and political development of Europe and bring some economic advantages. The Euro will eliminate exchange rate risks and trans- action costs among countries in the Union. Thus, financial markets will become more effective; all markets will become more transparent; and competition among member countries will increase. As a result, a stable Euro will develop the common market and increase economic co-operation among enterprises. However, more competition requires radical and dramatic structural changes and more flexible entreprises, en- trepreneurs, and national economic and social policies. Consequently, a stable Euro  will help to realize a more integrated European market.