This paper explores the conflict of real and monetary convergence during the EMU run-up of the future Central and … within the projected time frame. Despite the merits of nominal appreciation, countries committed to hard euro pegs might …

of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the …The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its … "outs" to fulfill the convergence criteria, and whether in this case "ins" open the door for the "outs" to enter the euro …

market economy. The enlargement was (and always is) the most significant and the most ambitious European project since the … to the twenty-five member countries, with accession of ten New Member States (NMS). The process of enlargement has … Union (EMU) and the process of integration are the major points of the Europe of twenty-seven member countries. The process …

of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the …The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its … "outs" to fulfill the convergence criteria, and whether in this case "ins" open the door for the "outs" to enter the euro …

necessarily imply a possible disruption of EMU. In the paper two exercises are presented for assessing the impact of enlargement …The increased heterogeneity of the European market after the prospective joining of the acceding countries to EMU could … imperil the latter’s stability. It is widely expected that following enlargement the optimality conditions of the eurozone …

At this moment in time, from all the 27 European Union member states only 13 are involved in the 3rd stage of EMU: the … 11 „ founding members” which begun to use the euro from 1999, Greece which has joined the euro zone from 2001, and … Slovenia starting 2007. From the group of the 14 countries which are outside the euro zone, only Great Britain and Denmark have …

treaty. The topic seems even more remarkable given the background of the upcoming Eastern enlargement. This contribution …