Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 20
Brussels, 25 November 1999 : Summary of Proceedings and Papers. A currency board combines four elements : a fixed exchange rate peg to an anchor currency ; automatic convertibility ( that is , the right to exchange domestic currency at ...
Brussels, 25 November 1999 : Summary of Proceedings and Papers. A currency board combines four elements : a fixed exchange rate peg to an anchor currency ; automatic convertibility ( that is , the right to exchange domestic currency at ...
Page 103
... anchor currency because of Germany's credible monetary policy and its central role in the EU , by now the largest ... currency peg was considered more transparent than multicurrency peg . Estonia's choice of the CB arrangement reflected ...
... anchor currency because of Germany's credible monetary policy and its central role in the EU , by now the largest ... currency peg was considered more transparent than multicurrency peg . Estonia's choice of the CB arrangement reflected ...
Page 133
... currency board A currency board is an organisation that legally guarantees to redeem on demand the local currency against another " anchor " or reserve currency at a fixed rate . However , although they share many characteristics , currency ...
... currency board A currency board is an organisation that legally guarantees to redeem on demand the local currency against another " anchor " or reserve currency at a fixed rate . However , although they share many characteristics , currency ...
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accession achieved acquis activities adjustment adoption assets authorities average backing Bank of Estonia Bank of Lithuania base budget capital central bank Commission competitiveness convergence countries credibility crisis currency board currency board arrangement currency board system debt deficit Directorate domestic economic economic policy effect euro European experience exports external Figure financial markets fixed exchange rate flexibility foreign framework Fund growth implementation important increase independence inflation institutions integration interest interest rates introduction investment Ireland Irish issue joining kroon labour liquidity loss measures Member monetary policy movements nominal notes operations participation particular performance period present productivity recent reforms relative remained Report reserves result sector securities shocks stability sterling strong structure trade transition Union wages