Buiter, W. and Sibert, Anne (2006) Beauties and the beast: when will the new EU member countries from central and eastern Europe join the Eurozone? Other. UNSPECIFIED. (Unpublished)
Abstract
On 1 May 2004, eight Central European former communist states, together with Cyprus and Malta, joined the 15-member European Union. Estonia, Lithuania and Slovenia joined the Exchange Rate Mechanism (ERM) of the Economic and Monetary Union (EMU) in June 2004 and hope to become members of the Euro area by 1 January 2007.1 Latvia joined the ERM in May 2005 and targets full membership of the EMU in 2008. Slovakia also joined ERM in 2005 and hopes to join the Eurozone in 2009. The Czech Republic, Hungary and Poland have not yet joined the ERM. In this article we consider whether or not the new member states would benefit from joining the Eurozone and any potential economic grounds for excluding them. Then we consider whether, regardless of the fundamental economic merits of Eurozone membership, the Maastricht convergence criteria are likely to stand in the way of the five countries that joined the ERM achieving Eurozone membership by their target dates.
Metadata
| Item Type: | Monograph (Other) |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Sarah Hall |
| Date Deposited: | 25 Aug 2020 08:17 |
| Last Modified: | 02 Aug 2023 18:03 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/40600 |
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