Question: 1. One could view the United States as a currency union of 50 states. Compare and contrast the Eurozone and the United States in terms of the optimum currency area (OCA) criteria.
2. After German reunification and the disintegration of Communist rule in Eastern Europe, several countries sought to join the European Union (EU) and later the Economic and Monetary Union (EMU). Why do you believe these countries were eager to integrate with Western Europe? Do you think policy makers in these countries believe that OCA criteria are self-fulfilling? Explain.