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
... member states could keep them in place . At some point after accession , the timing of ERMII participation must be considered , including by member States with a CBA , as well as successful conditions for participation . Joining the ...
... member states could keep them in place . At some point after accession , the timing of ERMII participation must be considered , including by member States with a CBA , as well as successful conditions for participation . Joining the ...
Page 36
... Member States have reached the necessary state of preparedness . 66 While not excluding that negotiations may give ... Member State would therefore upon accession also assume the rights and obligations , which constitute the third stage ...
... Member States have reached the necessary state of preparedness . 66 While not excluding that negotiations may give ... Member State would therefore upon accession also assume the rights and obligations , which constitute the third stage ...
Page 39
... Member States with a derogation . 4. EMU ACQUIS IN THE AREA OF EXCHANGE RATE There are no formal pre - accession obligations in this area . Upon accession , new Member States will have to treat their exchange rates as a matter of common ...
... Member States with a derogation . 4. EMU ACQUIS IN THE AREA OF EXCHANGE RATE There are no formal pre - accession obligations in this area . Upon accession , new Member States will have to treat their exchange rates as a matter of common ...
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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 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