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The Single Monetary Policy and the Analytics of OCAs: what has the Euro area experience taught us?

Hellenic Observatory lecture in association with the FT Business – LSE European Institute The Future of Europe lecture series

The introduction of the euro posed unique challenges for monetary policy. Some observers took the view that a single monetary policy for all euro-area countries would not succeed because the euro area did not fulfil the pre-requisites of on Optimum Currency Area (OCA). In his lecture Mr Garganas will argue that the traditional way of thinking about OCAs overlooks the fact that the criteria used to judge optimality are, to some extent, endogenous. He will also argue, the experience of the euro area demonstrates that the creation of a monetary union can itself create conditions that are favourable to the well-functioning of the union.

Nicholas C Garganas is governor of the Bank of Greece, a member of the Bank’s Monetary Policy Committee, a member of the Governing Council and the General Council of the European Central Bank, and a governor of the International Monetary Fund for Greece.


Nicholas Garganas | talks
Chair: Howard Davies | talks


Date and Time:

18 February 2008 at 6:30 pm


1 hour 30 minutes



Old Theatre, London School of Economics & Political Science
Houghton St

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Organised by:

London School of Economics & Political Science
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Available from:

This event is free and open to all with no ticket required. Entry is on a first come, first served basis

Additional Information:

For more information email events@lse.ac.uk or call 020 7955 6043
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