Common Currency in the European System: Politological Analysis

Abstract

The article describes selected economic phenomena of the European system,
i.e. a structure of national and European Union institutions in Europe.
It mainly analyses the conditions for the system of a common currency. It presents
the most important institutional loopholes which lower the effectiveness
of managing the economy. Moreover, they result in democratic deficit both
in the European Union and in the Member states what additionally weakens
the effectiveness of management.