In this essay I will try to prove that having a monetary union has far more advantages than disadvantages, and that countries in different regions should strive towards integration in monetary sense. One of the main arguments will actually be the example, the example of European Union and its monetary politics.
Especially small countries benefit from integration. We will discuss later the benefits of smaller countries which are gaining a lot from joining the monetary union in many spheres such as attracting and being more open for the investors and etc.
The structure of this essay is divided in three main parts. First is the general introduction to the concept of monetary union, how it got into being and its history, development and membership criteria.
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