EMU and Enlargement - A review of policy issues

01-12-1999

Within a decade, the number of EU Member States should have nearly doubled. An important consequent issue is how quickly the new countries will also be able to become part of the Euro area. This study examines in detail, wihtin the context of the enlargement timetable, the economic outlook for the twelve existing applicants, and assesses how far they will be able to meet the Maastricht convergence criteria. It also looks at possible strategies for preparing the way to EMU membership ¿ including the linking of their currencies to the ¿ even in advance of joining the EU. Annexes also look at the differing lessons of Portuguese and E. German experiences.

Within a decade, the number of EU Member States should have nearly doubled. An important consequent issue is how quickly the new countries will also be able to become part of the Euro area. This study examines in detail, wihtin the context of the enlargement timetable, the economic outlook for the twelve existing applicants, and assesses how far they will be able to meet the Maastricht convergence criteria. It also looks at possible strategies for preparing the way to EMU membership ¿ including the linking of their currencies to the ¿ even in advance of joining the EU. Annexes also look at the differing lessons of Portuguese and E. German experiences.

Údar seachtarach

Holger van Eden, Albert de Groot, Elisabeth Ledrut, Gerbert Romijn and Lucio Vinhas de Souza, NEI Rotterdam