Europe of Monetary Unity in Contrast with the Europe of National and Cultural Diversity

Wissenschaftliches Symposium "Europe zwischen Erweiterung und Vertiefung", Vol. 24, pp. 69-81, 2005

11 Pages Posted: 10 Sep 2008

See all articles by Branko Matic

Branko Matic

University of J.J. Strossmayer in Osijek - Faculty of Economics

Antun Sundalić

University of Osijek - Faculty of Economics

Date Written: October 19, 2005

Abstract

The history of Europe is riddled with conflict and disagreement between its nations and the present has not managed to erase their traces. The establishment of the European Union, although started as an economic project (EEC), has gained some other dimensions as well: monetary, political and cultural. Not all EU member states are equally interested in each of these dimensions. Old member states, for example, wish to maintain economic development, social and individual standard, their national and cultural identities. New members, on the other hand, expect faster economic development, raising social and individual standard, social security and stability. These differences call into question the functional unity of the EU which definitely requires a common European identity. Transnationalization and cosmopolitization of today's world suppress the European traditionally national orientation. In addition, the pattern of a European standard emerging through a consumption culture demands abandonment of national traditions. Nevertheless, this does not necessarily mean the emergence of a unitary Europe for an obvious reason: there is significant inequality between European nations. Can perhaps monetary unity be the first important step in overcoming historical differences, economic inequality and national and cultural self-sufficiency? Can common goals of monetary policy, its elastic organization and expansion to new countries contribute to this? These are some of the issues analyzed in this paper, together with the relationship between the Croatian currency kuna and the euro.

Note: Downloadable document is in German.

Keywords: monetary unity, European identity, functional unity, consumption culture, European Union

JEL Classification: E

Suggested Citation

Matic, Branko and Sundalić, Antun, Europe of Monetary Unity in Contrast with the Europe of National and Cultural Diversity (October 19, 2005). Wissenschaftliches Symposium "Europe zwischen Erweiterung und Vertiefung", Vol. 24, pp. 69-81, 2005, Available at SSRN: https://ssrn.com/abstract=1266136

Branko Matic (Contact Author)

University of J.J. Strossmayer in Osijek - Faculty of Economics ( email )

Gajev trg 7
Osijek, 31000
Croatia

HOME PAGE: http://www.efos.hr/nastavnici/bmatic/

Antun Sundalić

University of Osijek - Faculty of Economics ( email )

Gajev trg 7
Osijek, 31000
Croatia

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