Buiter, Willem H.; Sibert, Anne - 2021
coordination problems associated with the distribution of seigniorage revenue and the Stability and Growth Pact …If Stage Three of EMU starts on January 1, 1999, transition issues remain on two time scales. Until July 1, 2002 …, national currencies and the euro co-exist as legal tender. We argue that intra-EMU currency risk exists in principle during …