Indeed, let me note that there is severe price competition among commoditized goods and services that firms provide, and thus firms need to take initiatives to develop capital goods, materials, or parts with high technology, or unique high value-added goods or services with high brand value.
In my presentation, I would like to talk to you about the subject that I know best, one in which I obviously have a comparative advantage, and that is Economic and Monetary Union in Europe (EMU). So, I will recap on why and how the euro was introduced and what are the main problems with European monetary union in practice.