Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 114
... Estonian kroon against the German mark ( EUR ) . The ultimate aim of the policy is to import the price stability of the base currency into the Estonian economy . The overall rate of inflation , measured in consumer prices , has dropped ...
... Estonian kroon against the German mark ( EUR ) . The ultimate aim of the policy is to import the price stability of the base currency into the Estonian economy . The overall rate of inflation , measured in consumer prices , has dropped ...
Page 121
... Estonian kroon that establishes clear guidelines and responsibilities in that respect . Firstly , the law stipulates that no one has the right to devalue Estonian currency vis - à - vis the German mark . Secondly , Bank of Estonia ...
... Estonian kroon that establishes clear guidelines and responsibilities in that respect . Firstly , the law stipulates that no one has the right to devalue Estonian currency vis - à - vis the German mark . Secondly , Bank of Estonia ...
Page 131
... Estonian Kroon was fixed to the Deutsche Mark , at a rate of 8 Kroons for 1 DM , under a Currency Board Arrangement ( CBA ) . On 1 January 1999 , following the introduction of the Euro , the Estonian Kroon has become de facto linked to ...
... Estonian Kroon was fixed to the Deutsche Mark , at a rate of 8 Kroons for 1 DM , under a Currency Board Arrangement ( CBA ) . On 1 January 1999 , following the introduction of the Euro , the Estonian Kroon has become de facto linked to ...
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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