Appendix: Existing Andproposed Currency Unions Analyzed in Recent IMF Studies

European Monetary Union (EMU): Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain.

Central and Eastern European Countries potentially joining EMU: some of the countries that have been analyzed as an illustration include Albania, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, FYR Macedonia, Poland, Romania, the Slovak Republic, and Slovenia.

North American Free Trade Area (NAFTA): Canada, Mexico, and United States.

Mercosur: Argentina, Brazil, Paraguay, Uruguay, and associate members Bolivia and Chile.

Association of South East Asian Nations (ASEAN): Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Gulf Cooperation Council: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.

Eastern Caribbean Union: Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines.

CFA Franc zone: Benin...