When is the right time for EMU entry?

摘要

The introduction of the euro in the new EU member states is the next big challenge in the" process of these countries' integration in the Union. Compared with accession to the EU, joining the euro should be an easy undertaking. But public discussions often seem to suggest that it is the other way round. This disproportion may partly be due to a wrong interpretation of economic policy reality in the EU. The hew member states will be strongly integrated in the EU's economic policy guidelines, including the Stability and Growth Pact, from May 1, 2004 onwards, ie, even before the possible date of their adoption of the euro.