Euroisation and its impact on Albanian economy compared to nearby countries

Klesenda ZAÇE & Nurieda METKO
The usage of foreign currency is a widespread phenomenon in most of the Balkan countries, as well in Albania. The phenomenon comes along with the adaption of the domestic currency from Lek to Euro in our case. Analyzing euroisation process as an occurrence, we can face both sides of its effects either positive or negative, the benefits and expenses of the official Eurosystem and also the impact of using euro in Albania.
During the last decade, Albania has exposed itself to euro currency due to many transactions performed in euro and also regarding to the international trade relations. A comparison of Albania to Balkan countries will demonstrate better if euroisation has more advantages than disadvantages in application and also if it will boost the economy. On this regard, the process of euroisation bears some impacts in our economy as a whole and precisely as well. Our paper is focused on giving a clear frame on theoretical effects of euroisation in economic indicators in comparison to nearby countries as a financial analysis to demonstrate if we should consider adapting our currency from Lek.