Adopting the Euro in Central Europe : Challenges of the Next Step in European Integration

Author/Editor:

International Monetary Fund

Publication Date:

April 14, 2005

Electronic Access:

Link to Abstract

Summary:

Upon entry into the European Union, countries become members of the Economic and Monetary Union (EMU), with a derogation from adopting the euro as their currency (that is, each country joining the EU commits to replace its national currency with the euro, but can choose when to request permission to do so). For most of these countries, adopting the euro will entail major economic change. This paper examines likely economic developments and policy challenges for the five former transition countries in central Europe--the Czech Republic, Hungary, Poland, the Slovak Republic, and Slovenia--that joined the European Union in May 2004 and operate under independent monetary policies but have not yet achieved policy convergence with the rest of the euro area.

Series:

Occasional Paper No. 234

Subject:

Frequency:

Quarterly

English

Publication Date:

April 14, 2005

ISBN/ISSN:

9781589063501/0251-6365

Stock No:

S234EA

Price:

$25.00 (Academic Rate:$22.00)

Format:

Paper

Pages:

148

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