Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2000
The euro is a new currency, and the ECB as a new institution still has to establish its reputation. The best way to do … the monetary union. This relates to the candidates for new EU membership; they will need the exchange rate for quite some … time. For the UK, only a short time window in which the business cycle in the UK and that in EMU are in a similar phase …