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The purpose of this article is to identify, which of the new EU member countries is, in accordance with OptimumCurrency Area (OCA) theory, appropriate candidate of the euro area membership. The author uses the OCAindex to consider the suitability of monetary union membership. The OCA index is calculated for the EU10 countriesand four selected traditional EU member states. The author concludes that, according to the OCA index, theCzech Republic is the best candidate for membership of the euro area. In the period 1999–2009, this amountedbetter value of the OCA index with the euro area than Austria and the Netherlands. Least suitable candidates are,according to the conclusions of the article, the Baltic countries

An optimum currency area index for the EU10 countries