When should new members from Central and Eastern Europe Join the Euro Area?

Nonfiction, Social & Cultural Studies, Political Science
Cover of the book When should new members from Central and Eastern Europe Join the Euro Area? by Jozef Vasak, GRIN Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Jozef Vasak ISBN: 9783638235181
Publisher: GRIN Publishing Publication: November 24, 2003
Imprint: GRIN Publishing Language: English
Author: Jozef Vasak
ISBN: 9783638235181
Publisher: GRIN Publishing
Publication: November 24, 2003
Imprint: GRIN Publishing
Language: English

Thesis (M.A.) from the year 2003 in the subject Politics - International Politics - Topic: European Union, grade: 2 (B), University of Hamburg (European College, Hamburg), 56 entries in the bibliography, language: English, abstract: After a decade of transition from communist regime with centrally planned economic system to democratic society with market economy and after several years of negotiations on the European Union membership, ten candidate countries from Central and Eastern Europe signed the accession treaties at summit in Athen in April 2003. If they conduct public referenda successfully and the present members states complete the ratification, they will become members states in May 2004. The membership in the European Union implies the prospect of eventual membership in the Economic and Monetary Union. The consequent question is: when exactly should they join? According to the Maastricht Treaty, in order to become members of monetary union, new members have to fulfil the convergence criteria. As academic and policy discussions show, from the perspective of monetary policy and economic reasoning, this question, so far, has no clear answer. Politically, the majority of new members already expressed the intention to fulfil the Maastricht criteria as soon as possible and to join between 2006 and 2008. The officials of the European Union and the European Central Bank prefer a later entry date or tend to be neutral on the issue. Further popular opinion recommends waiting until the euro area consolidates its own monetary policy mechanism. Among economists, the timing of the eastern enlargement of monetary union is a controversial issue as well. Some argue the nominal convergence set by the Maastricht Treaty to be far from sufficient to form a monetary union with less developed economies. As long as the real convergence in terms of prosperity, functioning institutions or reaction of economy to economic shocks, is not achieved, a common monetary policy stays undesirable. Opposition to these arguments points out that the inclusion of peripheral members of the European Union with characteristic similar to new members, so far, had no negative effects for those countries or for the monetary union. Others oppose the eager ambition of an early accession to the euro area, because economies of candidate countries members need a different monetary policy, while catching-up the present members. They stress some of the Maastricht criteria to be contradictory to the catching-up process and advise to accept the higher inflation rates leading to real appreciation of exchange rates. [...]

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Thesis (M.A.) from the year 2003 in the subject Politics - International Politics - Topic: European Union, grade: 2 (B), University of Hamburg (European College, Hamburg), 56 entries in the bibliography, language: English, abstract: After a decade of transition from communist regime with centrally planned economic system to democratic society with market economy and after several years of negotiations on the European Union membership, ten candidate countries from Central and Eastern Europe signed the accession treaties at summit in Athen in April 2003. If they conduct public referenda successfully and the present members states complete the ratification, they will become members states in May 2004. The membership in the European Union implies the prospect of eventual membership in the Economic and Monetary Union. The consequent question is: when exactly should they join? According to the Maastricht Treaty, in order to become members of monetary union, new members have to fulfil the convergence criteria. As academic and policy discussions show, from the perspective of monetary policy and economic reasoning, this question, so far, has no clear answer. Politically, the majority of new members already expressed the intention to fulfil the Maastricht criteria as soon as possible and to join between 2006 and 2008. The officials of the European Union and the European Central Bank prefer a later entry date or tend to be neutral on the issue. Further popular opinion recommends waiting until the euro area consolidates its own monetary policy mechanism. Among economists, the timing of the eastern enlargement of monetary union is a controversial issue as well. Some argue the nominal convergence set by the Maastricht Treaty to be far from sufficient to form a monetary union with less developed economies. As long as the real convergence in terms of prosperity, functioning institutions or reaction of economy to economic shocks, is not achieved, a common monetary policy stays undesirable. Opposition to these arguments points out that the inclusion of peripheral members of the European Union with characteristic similar to new members, so far, had no negative effects for those countries or for the monetary union. Others oppose the eager ambition of an early accession to the euro area, because economies of candidate countries members need a different monetary policy, while catching-up the present members. They stress some of the Maastricht criteria to be contradictory to the catching-up process and advise to accept the higher inflation rates leading to real appreciation of exchange rates. [...]

More books from GRIN Publishing

Cover of the book Relevance of income as one of the poverty indicators in Latin America by Jozef Vasak
Cover of the book The German Anti-Discrimination Law of 2006 - A small step? by Jozef Vasak
Cover of the book International Trade and Finance - Pharmaceutical Industry in Germany by Jozef Vasak
Cover of the book Can Witchcraft be seen merely as a Manifestation of a Society that feared 'Marginal' Women? by Jozef Vasak
Cover of the book European Union and United States: Problems and Perspectives of the Transatlantic Dialogue by Jozef Vasak
Cover of the book Bulls and Bears - The Rise and Fall of the Stock Markets at the Turn of the 21st Century by Jozef Vasak
Cover of the book Politeness strategies in Hungary and England with special focus on greetings and leave-taking terms by Jozef Vasak
Cover of the book Modern Psychotherapy and Buddhist Thought by Jozef Vasak
Cover of the book Marriage as social setting for women by Jozef Vasak
Cover of the book 1748-1763: The British East India Company in transition - from a trading company to a colonial power by Jozef Vasak
Cover of the book The Chinese Consumers' Attitudes towards their 'Willingness to Pay' for Renewable Electricity by Jozef Vasak
Cover of the book Konkretes Denken by Jozef Vasak
Cover of the book Quantum Cultural Intelligence and Managerial Problem Solving by Jozef Vasak
Cover of the book Account for differences in the development of physical education in Britain and Germany in the nineteenth century by Jozef Vasak
Cover of the book The Power of Motivational Events by Jozef Vasak
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy