Seminar on Currency Boards in the Context of EU Accession: Brussels, 25 November 1999 : Summary of Proceedings and Papers |
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Page 39
... euro area to the euro2 . However , new Member States will have to be committed to adopt the euro , in due course . For that they will have to fulfil the exchange rate criterion . Article 121 ( 1 ) §3 ( ex - 109j ( 1 ) §3 ) of the EC ...
... euro area to the euro2 . However , new Member States will have to be committed to adopt the euro , in due course . For that they will have to fulfil the exchange rate criterion . Article 121 ( 1 ) §3 ( ex - 109j ( 1 ) §3 ) of the EC ...
Page 157
... euro area and the debt to GDP ratio could also be non monotonic . However , as the debt ratio appears also in other terms of equation ( 15 ) this is not straightforward to prove . However , one point is clear from general considerations ...
... euro area and the debt to GDP ratio could also be non monotonic . However , as the debt ratio appears also in other terms of equation ( 15 ) this is not straightforward to prove . However , one point is clear from general considerations ...
Page 162
... euro area . At this threshold the country is just indifferent between joining and going it alone because two effects just offset each other : if the country joins the euro area its inflation rate would be too low ( zero inflation would ...
... euro area . At this threshold the country is just indifferent between joining and going it alone because two effects just offset each other : if the country joins the euro area its inflation rate would be too low ( zero inflation would ...
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Common terms and phrases
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