Economic and Monetary Union in the Accession Countries - Political and Economic Contexts
AbstractThe EU-25 will start operating on May 1, 2004. This paper reviews the position of the new Member States (NMS) in the Economic and Monetary Union (EMU) with respect to future adoption of euro. It argues that further integration in this area is much more about the deepening of the political integrity of the EU than about lowering transaction costs. However, a debate on the political and economic implications resulting from the adoption of euro by the NMS is full of unsolved issues. The central one is to define the possible scenario of the path to the euro. It implies actions on both sides: the NMS need to implement many economic reforms and enhance the political debate on the benefits of the euro adoption. The EU side must proceed with reforms, including the redefinition of the Stability and Growth Pact. The lack of reforms may hamper the political position of the EU.
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Bibliographic InfoArticle provided by University of Economics, Prague in its journal Prague Economic Papers.
Volume (Year): 2004 (2004)
Issue (Month): 2 ()
Postal: Editorial office Prague Economic Papers, University of Economics, nám. W. Churchilla 4, 130 67 Praha 3, Czech Republic
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F15 - International Economics - - Trade - - - Economic Integration
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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European Economy - Economic Papers
180, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
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- Buti, M. & Eijffinger, S.C.W. & Franco, D., 2003. "Revisiting the Stability and Growth Pact: Grand Design or Internal Adjustment?," Open Access publications from Tilburg University urn:nbn:nl:ui:12-176184, Tilburg University.
- Buti, Marco & Eijffinger, Sylvester C W & Franco, Daniele, 2003. "Revisiting the Stability and Growth Pact: Grand Design or Internal Adjustment?," CEPR Discussion Papers 3692, C.E.P.R. Discussion Papers.
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