%0 Journal Article
%T The euro in a changing world
%A Gostomski, Eugeniusz
%A Michałowski, Tomasz
%J International Business and Global Economy
%V 2018
%R 10.4467/23539496IB.18.037.9410
%N Volume 37
%P 506-519
%K euro, eurozone, international currency
%@ 2300-6102
%D 2018
%U https://ejournals.eu/en/journal/ibage/article/euro-w-zmieniajacym-sie-swiecie
%X 
	The creation of the eurozone is the implementation of one of the most important challenges of the European economic integration. From the very beginning, the project of creating a monetary union of the European Union countries aroused much controversy. It intensified after the outbreak of the debt crisis in the eurozone. The objective of this study is to evaluate the role of the euro as an international currency and assess selected proposals that focus on improving the functioning of the single European currency area. The study is based on the analysis of relevant reports of the European Central Bank and research by foreign specialists. Despite the sovereign debt crisis in the euro area, the euro remains the second most important currency in international economic relations. The authors are convinced that the euro area needs to be repaired, but none of the ideas al- ready submitted has a chance to be implemented. Therefore, the search for compromise solutions is needed. The authors reject the proposal to return to the national currencies of both indebted eurozone countries and Germany with huge balance of payments surplus.