Seminar on Currency Boards in the Context of EU Accession, Brussels, 25 November 1999: Summary of Proceedings and PapersThis issue deals with currency board arrangements in candidate countries, showing the willingness to tackle difficult subjects pertinent to accession. It presents the papers and conclusions together with a summary of the seminar that took place in Brussels on 25 November 1999. The seminar looked at countriesœ recent experiences with currency boards and identified conditions producing success. It helped to clarify the Commission Servicesœ position with regard to currency board arrangements in candidate countries in the context of their future accession to Economic and Monetary Union and adoption of the euro. |
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