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Erschienen in:
2006 | OriginalPaper | Buchkapitel
Exchange Rate Policies and Institutional Arrangements in the Transition Process to European Monetary Union
verfasst von : Peter Bofinger
Erschienen in: New Issues in Regional Monetary Coordination
Verlag: Palgrave Macmillan UK
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After their accession to the European Union, the countries of Central and Eastern Europe will be confronted with the difficult task of designing an exchange-rate strategy for their transition to the European Monetary Union (EMU). This requires above all a timetable for the major institutional steps, membership in ERM II and finally, entry into the EMU. In addition, countries will have to decide on the exchange rate policy they will follow in the pre-ERM II period and, given the wide ±15 per cent margin, to some extent also during their period of ERM II membership.