Income convergence in reverse among original euro members, research says
Fall in income disparities halted soon after 2002 and started to increase after financial crisis
The convergence of per capita income among the original members of the euro area stagnated in the early years after the introduction of the common currency and started to reverse after the financial crisis, according to a working paper published by the International Monetary Fund.
Economic convergence in the euro area: coming together or drifting apart? acknowledges that the common currency has facilitated the nominal convergence of inflation and interest rates across the currency union.
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