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The EU attitude to unilateral euroization: Misunderstandings, real concerns and sub‐optimal admission criteria

Author

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  • Andrzej Bratkowski
  • Jacek Rostowski

Abstract

European Union objections to unilateral euroization by applicant countries are categorized as either a misunderstanding of what euroization entails or as justified concern, which should be alleviated by candidates wishing to euroize. Some ways in which candidates can alleviate concerns are discussed, as well as possible adjustments to the Maastricht criteria which might better protect both sides' interests. The paper concludes that the EU would benefit if it accepted unilateral euroization by applicants. JEL classification: E42, F33, F42, P24.

Suggested Citation

  • Andrzej Bratkowski & Jacek Rostowski, 2002. "The EU attitude to unilateral euroization: Misunderstandings, real concerns and sub‐optimal admission criteria," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 10(2), pages 445-468, July.
    • Handle: RePEc:bla:etrans:v:10:y:2002:i:2:p:445-468
    DOI: 10.1111/1468-0351.00120
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    Cited by:

    1. repec:spo:wpecon:info:hdl:2441/3361 is not listed on IDEAS
    2. Sandrine Levasseur, 2004. "Why not euroisation?," Revue de l'OFCE, Presses de Sciences-Po, vol. 91(5), pages 121-156.
    3. Przemek Kowalski, 2003. "Nominal and Real Convergence in Alternative Exchange Rate Regimes in Transition Countries: Implications for the EMU Accession," CASE Network Studies and Analyses 0270, CASE-Center for Social and Economic Research.
    4. Mariusz Jarmuzek, 2005. "Are the EU new member states fiscally sustainable? An empirical analysis," UCL SSEES Economics and Business working paper series 51, UCL School of Slavonic and East European Studies (SSEES).
    5. Jacek Rostowski, 2004. "The Stability and Growth Pact - Essential and Unfeasible," CASE Network Studies and Analyses 0275, CASE-Center for Social and Economic Research.
    6. Roman Horváth, 2004. "Is Dollarization the Right Option? Financial Fragility, Original Sin and Fear of Floating," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 54(5-6), pages 252-266, May.
    7. repec:hal:wpspec:info:hdl:2441/3361 is not listed on IDEAS
    8. repec:hal:spmain:info:hdl:2441/3361 is not listed on IDEAS

    More about this item

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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