Challenges and Perspectives of the Eurozone in East -Central Europe

Since the introduction of the euro twenty years ago the majority of countries who joined the single currency area were from East-Central Europe. They did so despite the Great Recession starting in 2008 and the changing eurozone rules that were established in order to prevent another potential crisis. There are member states from the region who are currently in the waiting room of the eurozone. However, there are EU member states in the East-Central European region who show persistent reluctance. Three of the Visegrád countries (the Czech Republic, Poland and Hungary) and also Romania is far from even announcing even a target date. In our paper we address the issue of the sustainability of abstention from the eurozone. What political and economic factors keep these countries out? As the number of outsiders has been decreasing, is there not a market push for accession? Can outside actors like Germany as a key political player and investor in the region influence these decisions? We will answer these questions using available financial and economic data as well as the narrative analysis of political declarations.