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| Author: | Schoors, K. |
| Title: | Should the Central and Eastern European Accession Countries Adopt the EURO Before or After Accession? |
| Journal: | Economics of Planning
2002 : VOL. 35:1, p. 47-77 |
| Index terms: | EUROPE EUROPEAN MONETARY SYSTEM EUROPEAN UNION INTERNATIONAL RELATIONS |
| Language: | eng |
| Abstract: | The author analyses the option of unilateral euroisation for Central and Eastern Europe. The thorny questions of losing seigniorage and losing the lender of last resort are explicitly addressed. It is found that the option of unilateral euroisation might be quite inviting for some countries. This is certainly the case if one takes into account the difficulties thrown up by the Maastricht- criteria. It is argued that unilateral euroisation provides elegant way out of the catch of the official EMU- accession path. The EU has, however, expressed explicitly its enmity against euroisation. The author thinks this is a policy error. It should be at least a genui policy option for all countries concerned. |
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