New EU states and the adoption of the Euro

Table of Con 10ts Introduction.......3 The Three Phases of Monetary Integration........4 ERM II......... 4 Maastricht overlap Criteria.........6 Threats and Opportunities for the New States Joining the Euro.......8 Tar hitch Dates for Euro borrowing         9 The Convergence Issue         12 Real vs. nominative Convergence         12 Conclusions         13 Bibliography         14 Appendix         15         5-Year Perspective on the 10 States Currencies against the Euro         15         Cyprus Pound (CYP) contend central value         15         Latvian Lats (lVl) unconnected flip-flop prize         15         Maltese Lira (MTL) exotic transfer deem         16         Slovenian Tolar (SIT) foreign rallying consider         16         Slovak Koruna (SKK) foreign exchange rate         17         Lithuanian Litas (LTL) foreign exchange rates         17         Estonian Kroon (EEK) foreign exchange rate         18          right(prenominal) ERM II: Czechoslovakian Koruna (CZK) foreign exchange rate         18          Magyar Forint (HUF) foreign exchange rate         19          nuance Zloty (PLN) foreign exchange rate         19 The New EU States and their sufferance of the Euro Introduction The EU has big(a) in size with successive waves of accessions.

Denmark, Ireland and the United state conjugated the founding members (Belgium, France, westmost Germany, Italy, Luxembourg and the Netherlands) in 1973, followed by Greece in 1981, Spain and Portugal in 1986 and Austria, Finland and Sweden in 1995. The European Union welcomed ten rising countries in 2004: Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia and Slovenia. Bulgaria and Romania expect to follow in 2007, mend Croatia and Turkey began membership negotiations in 2005. In 1992 the EU mulish to work through economical and Monetary Union (EMU), incorporating the penetration of a oneness European currency managed by a European commutation Bank. The angiotensin-converting enzyme currency - the euro - became a human beings on 01 January 2002, when euro notes and coins replaced study currencies in twelve of the fifteen countries of the European Union (Belgium, Germany, Greece, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal... If you exigency to get a full essay, gild it on our website: Ordercustompaper.com

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