Rather, I would like to share my views on the future of European monetary union. From an economist’s point of view, the question whether a country should abandon its currency and join a monetary union is typically analysed in the framework of what is known as the theory of optimum currency areas.
BIS central bankers’ speeches  1  Without a doubt, the euro area lacks some of the characteristics of an optimal currency area. Labour mobility, for instance, is much lower than in the US; plus the business cycles are not synchronised, nor is there any central fiscal stabiliser.