Reddit reviews Economics of Monetary Union

it depends on the way they experience assymetric shocks deriving from assynchronised bussiness cycles and how governments handle these.

in theory there is no problem with taking away the 3 tools of monetary policy assuming that (i) money is neutral in the long run and (ii) fiscal policies can be done in the short run.

there are obvious benefits to sharing a currency with trade partners (are they trading a lot with each other? i got no idea).

here's a good book at the ugrad level: https://www.amazon.co.uk/Economics-Monetary-Union-Paul-Grauwe/dp/0199563233