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The current crisis has shown that an economic integration through a political and monetary approach is wrong. It seems to be more appropriate a social and economic approach, meaning both a better preparedness of the new countries joining the euro area and more flexibility of the economic structures of the old members of the euro zone, in order to make the more "harmonious" the way of the monetary area operation. For that purpose, this article has made an analysis of the imbalances managementfatcat:kzvns7tnmnhwfpbnd6gvbee65q