Sunday morning started at Cracow International Summer School with the lecture from prof. Francesco Daveri from University of Parma. Daveri concentrated on Maastricht criteria and Mundell criteria of Optimum Currency Area. He reminded that most of EU countries were not meeting those conditions.
He experimented with the data to show hypothetical groups of countries that are more suitable for common currency, than euro area. He showed also that similar countries behaved during crisis similarly no matter whether they are in monetary union.