Maria-Dolores, Ramon; Garcia-Solanes, Jose - Econometric Society - 2004
One important issue for the new Member States (NMS) of the EU is the choice of the exchange rate regime that will allow … them to participate successfully in the EMU process. Two exchange rate arrangements, compatible with the EU Treaty and ERM2 … regulations, deserve special attention: flexible exchange rate regime and currency board with respect to the euro. The first …