From Transition to Monetary Integration: Central and Eastern Europe on its Way to the Euro Comments on the Country Papers

This article reviews a set of key issues arising in the context of the prospective monetary integration of Central and Eastern European countries into the euro area. It explores economic arguments that relate to the timing of a future euro adoption by new EU Member States. In doing so, the analysis...

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Bibliographic Details
Published inComparative economic studies Vol. 46; no. 1; pp. 177 - 190
Main Authors Backe, Peter, Mooslechner, Peter
Format Journal Article
LanguageEnglish
Published Palgrave Macmillan Ltd. (Springer) 01.03.2004
Subjects
Central Europe
Eastern Europe
Economic and Monetary Union
Economic aspects
Economic policy
Economics
Euro
European Union
Forecasts and trends
Monetary economics
Monetary policy
Transition economies
Europe
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Summary:This article reviews a set of key issues arising in the context of the prospective monetary integration of Central and Eastern European countries into the euro area. It explores economic arguments that relate to the timing of a future euro adoption by new EU Member States. In doing so, the analysis pertains to the prospects for meeting the Maastricht criteria in a sustainable manner, focusing mainly on the fiscal realm. The article also discusses the pros and cons of renouncing monetary independence irrevocably and how the costs and benefits of such a step may change over time and differ across countries. Furthermore, the Austrian experience with monetary integration is analysed, also with a view to asking what can possibly be learnt from the course of history in this particular country case.
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0888-7233
1478-3320
DOI:10.1057/palgrave.ces.8100045