A currency board for European Monetary Union outsiders |
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Authors: | Matthias Sutter |
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Affiliation: | 1. University of Innsbruck, Austria
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Abstract: | It is becoming clear that strict interpretation of the Maastricht criteria and adherence to the 1.1.1999 as the starting date for EMU will lead to a two-speed monetary union with insiders and outsiders. In this case, the author proposes the introduction of a currency board for outsiders in order to ensure a minimum of convergence before these countries join EMU as well as to confront the danger that outsiders may become faced with longer term obstacles to membership. *** DIRECT SUPPORT *** A02GP105 00003 |
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