Topics: European Union, Currency / Pages: 12 (2994 words) / Published: Mar 29th, 2013

IFIER papers The Eurozone:
An Optimal Currency Area? by Martina Fürrutter

February 2012

IFIERpapers combine theoretical reasoning and academic discussion of current research subjects in the two sub-disciplines of International and European Relations. IFIER publishes outstanding work by students as well as new findings of proven experts. IFIER will publish a special issue periodically. Contributions from political scientists and students outside of Innsbruck are explicitly welcome.

Each IFIER paper will be published online at: Contact:
IFIER Innsbruck
Department of Political Science
Universitätsstrasse 15, A-6020 Innsbruck
Publisher: Doris Dialer; Anja Opitz
Editorial: Doris Dialer; Martina Fürrutter; Anja Opitz; Kerstin Röck
Graphics & Layout: Katharina Pohler

ISSN 2226-0080


The Eurozone: An Optimal Currency Area? | Martina Fürrutter


sions if the Eurozone could actually be classified as an optimum currency area and if the decision of unifying various EU member states under one common currency has been right. Lately, facing the current monetary crisis, this scepticism has even intensified and

Martina Fürrutter

for this it seems to be the right moment to throw a light on the EU-OCA discussion once

studies Political Science and International Economic and Business Studies at the University of
Innsbruck. 2010-2011 she has been an ERASMUS student at the University of Zaragoza (Spain).
During the summer term 2011 she was a student assistant at the Academy for Civic Education
Tutzing. She is momentarily writing her first
Bachelor theses in Political Science on the
Changing role of the European Union in nuclear non-proliferation policy.

more and to examine the factors for founding the common currency area.
At f irst this paper will introduce Robert Mundell's theory of an Optimum Currency Area
(OCA) and briefly discuss the more general points of view of his

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