Costs of Euro Adoption
Funny how harshly time deals with economics textbooks sometimes.
From: Artis and Nixson, Eds, The Economics of the European Union. 2007.
“Gains from Euro adoption come at the expense of relinquishing monetary policy as a stabilization tool. [...] One early [...] study for the fourt large EU-15 countries found that, in comparison with a free float, EMU would reduce [...] output variability.“
GDP per capita:
all data from Eurostat