Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 14
... participation presupposes full participation to the single market . This is without prejudice to any changes that may be introduced to ERMII . After accession , candidate countries will participate in the process of possible ERMII ...
... participation presupposes full participation to the single market . This is without prejudice to any changes that may be introduced to ERMII . After accession , candidate countries will participate in the process of possible ERMII ...
Page 38
... participate in the Single market and EMU but will not adopt the euro . Participation in EMU presupposes participation in the Single market . The full liberalisation of capital movements will be largely accomplished , except for any ...
... participate in the Single market and EMU but will not adopt the euro . Participation in EMU presupposes participation in the Single market . The full liberalisation of capital movements will be largely accomplished , except for any ...
Page 41
... participation in the ERM - II before accession . This is desired first and foremost because a formal participation in a mechanism linking their currency to the euro would enhance the credibility of their policy framework , with ...
... participation in the ERM - II before accession . This is desired first and foremost because a formal participation in a mechanism linking their currency to the euro would enhance the credibility of their policy framework , with ...
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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