Do you still remember the “Teuro” (a pun from the German word for expensive, teuer, and euro)? Well, my family sure does. In the beginning of the 2000s there was a little restaurant we loved to go occasionally. But then the conversion from German mark to euro came in 2002. Continue reading When laypersons overthink economics
Tag: Euro
Welcome to the Eurozone, Lithuania!
With the beginning of 2015 Lithuania, as the last of the three Baltic states, will adopt the euro. A first attempt to join the single currency in 2007 failed because the inflation rate was above Maastricht requirements. Seven years later, Lithuania is considered to be ready to be a part of the eurozone. But what are the prospects of the small country of only 3 million inhabitants in a currency area which, according to theory, is far from being optimal? Continue reading Welcome to the Eurozone, Lithuania!
