This paper has been prepared as a part of a broader Ezoneplus project that evaluates European Monetary Union (EMU) and … Germany II. Regional Input: Capital Markets in Portugal and Spain III. Regional Input: Capital Markets in Slovenia and Hungary …

The main topic of the paper is optimal dynamics, i.e., timing of entry of the accession countries in the ERM 2 and EMU … delayed entry into the EMU? b) What are economic and other arguments for an early or late inclusion? c) What are the … with respect to the timing of entry in the ERM 2 as an interim institutional mechanism in the run-up to the EMU. …

countries presently fulfill the Maastricht convergence criteria and how the present EMU countries complied with them at a … comparable time distance before their own entry in EMU. Some of the related issues, such as monetary and fiscal policy …

shocks, once Slovenia joins the EMU. …Central and Eastern European (CEE) countries are expected to join the European monetary union (EMU) in a couple of …-called pre-in countries, as a preparatory stage before their EMU membership), and only a few years later join the EMU and adopt …

framework in Slovenia. Three periods are covered: Money-based Stabilization Policy (1991-1995), Price and Real Exchange Rate …