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 Prospects of Democratic Transition in the Middle East by Jozef Vasak
Cover of the book The 17th Century Garden by Jozef Vasak
Cover of the book Funktion und Bedeutung der ersten Verfassungen Haitis (1801-1805) by Jozef Vasak
Cover of the book Geology Adventures by Jozef Vasak
Cover of the book Sektorale Innovationssysteme: Eine Analyse der deutschen Kraftfahrzeugindustrie by Jozef Vasak
Cover of the book Bildung und soziale Ungleichheit by Jozef Vasak
Cover of the book The Enron scandal and the Sarbanes-Oxley-Act by Jozef Vasak
Cover of the book Mophology of the fairy tale. Disney's literary original 'The Princess and the Frog' analysed on the basis of Propp's 'Morphology of the folktale' by Jozef Vasak
Cover of the book Web 2.0 am Beispiel von studiVZ by Jozef Vasak
Cover of the book Consumer Mind Set: Motivation by Jozef Vasak
Cover of the book The Stolen Generations by Jozef Vasak
Cover of the book The Southern Company Value Alignment by Jozef Vasak
Cover of the book E-grocery. The last major growth potential in German food retailing? by Jozef Vasak
Cover of the book Some Potential Origins of the First World War (1914-1918) by Jozef Vasak
Cover of the book Gender and Education 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