1. The Accession Economies' Rocky Road to the Euro
- Author:
- Barry Eichengreen, George C. Pardee, and Helen N. Pardee
- Publication Date:
- 11-2003
- Content Type:
- Working Paper
- Institution:
- Institute of European Studies
- Abstract:
- Now that the decision has been taken to admit to the European Union eight of what were once called the transition economies, attention has naturally turned to whether these countries should also join Europe's monetary union. But where is a consensus that joining the EU, while posing certain difficulties, will be a source of net benefits, there is no such consensus about the adoption of the euro. In part this uncertainty reflects the unusual difficulty that monetary economists have in translating theory into policy. We specialists, in other words, cannot even agree amongst ourselves.
- Topic:
- Economics, International Trade and Finance, and Regional Cooperation
- Political Geography:
- Europe