The figure in panel (a) below shows the evolution of the exchange rates (normalized to have 1990=1) of the two countries with Germany, their main trading partner. They depreciate strongly until about 1999 and appreciate against the Deutsche Mark / Euro subsequently. Since 2009 the Slovak Koruna is fixed, while the Czech Koruna is still floating. Consider also the figure in panel (b), which depicts the expansion of the two economies' GDP (relative to 1990) during the same period. Panel (A): Exchange Rate Dynamics Panel (B): GDP Dynamics 1.75 1.2 Output Exchange Rate 1.5 1.25 T 1990 1995 2000 2005 2010 2015 2020 1990 1995 2000 2005 2010 2015 2020 Year Year CZE, float SVK, fix CZE, float SVK, fix Evolution of the exchange rate (normalized to have 1990=1) Evolution of the output (normalized to have 1990=1) Refer to the data charts in Panels A and B above and discuss to what extent the decision to adopt the Euro may have been beneficial for Slovakia during the first decade of the 21st century, while it might have been "harmful" in the second decade during the Eurozone debt crisis. (Hint: this part is very speculative, but the point is that you provide consistent reasoning that finds support both in the data shown above and in the analytical framework you are asked to present next)