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From Transition to Monetary Integration: Central and Eastern Europe on its Way to the Euro Comments on the Country Papers1

Author

Listed:
  • Peter Backé

    (European Central Bank, Kaiserstrasse 29, 60311 Frankfurt am Main, Germany.)

  • Peter Mooslechner

    (Oesterreichische Nationalbank, P.O. Box 61, 1011 Vienna, Austria.)

Abstract

This article reviews a set of key issues arising in the context of the prospective monetary integration of Central and Eastern European countries into the euro area. It explores economic arguments that relate to the timing of a future euro adoption by new EU Member States. In doing so, the analysis pertains to the prospects for meeting the Maastricht criteria in a sustainable manner, focusing mainly on the fiscal realm. The article also discusses the pros and cons of renouncing monetary independence irrevocably and how the costs and benefits of such a step may change over time and differ across countries. Furthermore, the Austrian experience with monetary integration is analysed, also with a view to asking what can possibly be learnt from the course of history in this particular country case. Comparative Economic Studies (2004) 46, 177–190. doi:10.1057/palgrave.ces.8100045

Suggested Citation

  • Peter Backé & Peter Mooslechner, 2004. "From Transition to Monetary Integration: Central and Eastern Europe on its Way to the Euro Comments on the Country Papers1," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 46(1), pages 177-190, March.
    • Handle: RePEc:pal:compes:v:46:y:2004:i:1:p:177-190
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    Cited by:

    1. Peter Backé, 2009. "The Monetary Integration of CESEE EU Member States: Achievements and Prospects," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 5, pages 73-81.
    2. Bilyana Petrova & Aleksandra Sznajder Lee, 2024. "The effect of European integration on economic redistribution in Central and Eastern Europe," European Union Politics, , vol. 25(1), pages 17-41, March.
    3. Peter Mooslechner, 2011. "Challenges for Monetary and Exchange Rate Policy in CESEE Created by the Crisis: Back to Square One?," Chapters, in: Ewald Nowotny & Peter Mooslechner & Doris Ritzberger-Grünwald (ed.), Post-Crisis Growth and Integration in Europe, chapter 16, Edward Elgar Publishing.

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