Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 93
... litas peg to the US dollar into a peg to the euro . Article 104 of the Treaty provides that central banks may not allow overdrafts to public institutions or lend to them in any other from ; central banks are not allowed to trade in ...
... litas peg to the US dollar into a peg to the euro . Article 104 of the Treaty provides that central banks may not allow overdrafts to public institutions or lend to them in any other from ; central banks are not allowed to trade in ...
Page 95
... litas in circulation by international reserves ; ( 2 ) an absolutely fixed exchange rate against the anchor currency , the US dollar ; and ( 3 ) rules for automatic issue of the currency . Let us consider whether the discussed ...
... litas in circulation by international reserves ; ( 2 ) an absolutely fixed exchange rate against the anchor currency , the US dollar ; and ( 3 ) rules for automatic issue of the currency . Let us consider whether the discussed ...
Page 97
... litas orientation from the dollar to the euro until the second half of 2001. This should already send a clear signal to economic entities concerning Lithuania's further integration into the EU and encourage them to use the euro in ...
... litas orientation from the dollar to the euro until the second half of 2001. This should already send a clear signal to economic entities concerning Lithuania's further integration into the EU and encourage them to use the euro in ...
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Common terms and phrases
accession countries adjustment adopt the euro anchor currency assets average Bank of Estonia Bank of Lithuania banking sector banking system budget Bulgaria candidate countries capital movements cent central bank commercial banks competitiveness credibility currency board arrangement currency board system Currency Commission current account deficit debt Directorate domestic Economic and Financial Economic and Monetary economic policy EMU acquis ERMII Estonian kroon Estonian monetary euro area European Commission European Union exchange rate policy exchange rate regime exports Financial Affairs financial markets financial sector fiscal policy fixed exchange rate flexibility foreign exchange framework growth Hong Kong Honohan implementation important increase inflation integration interbank interest rates investment Irish pound joining the euro liquidity litas macroeconomic Member monetary policy monetary system Monetary Union money market nominal participation payments percent period real exchange rate reserve requirement Russian crisis seigniorage stabilisation trade transition economies wages