After analyzing historical progress of European monetary unification, we find out that most member states in Euro area prefer to choose fixed exchange rate regimes.

通过对欧洲货币一体化的历史进程进行分析，发现多数欧元成员国偏向选择固定汇率制度。

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The practice of European Monetary Integration proved Theory of Optimum Monetary Area.

欧洲货币一体化的实践验证了最优货币区理论。

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This paper first introduces general theories of economic integration and optimal currency area and reviews the history of European Union and European economic and Monetary Union.

本文首先介绍经济一体化的一般理论和最优货币区理论，并简要回顾欧盟以及欧洲经济货币联盟成立的过程。

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Devising a one-size-fits-all monetary policy for such a diverse area might prove hideously difficult, and European economies are not flexible enough to cope with the potential problems.

ECONOMIST: Europe's mid-life crisis

The ECB's wake-up call is likely to come when its statistics department discovers that credit growth in the euro area has contracted for the first time since the formation of the European Monetary Union, says Cailloux.

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