scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 3,186
Table of Contents Introduction3 The Three Phases of Monetary Integration4 ERM II 4 Maastricht Convergence Criteria6 Threats and Opportunities for the New States Joining the Euro8 Target Dates for Euro Adoption9 The Convergence Issue12 Real vs Nominal Convergence12 Conclusions13 Bibliography14 Appendix15 5-Year Perspective on the 10 States Currencies against the Euro15 Cyprus Pound CYP foreign exchange rate15 Latvian Lats lVl foreign exchange rate15 Maltese Lira MTL foreign exchange rate16 Slovenian Tolar SIT foreign exchange rate16 Slovak Koruna SKK foreign exchange rate17 Lithuanian Litas LTL foreign exchange rates17 Estonian Kroon EEK foreign exchange rate18 Outside ERM II Czech Koruna CZK foreign exchange rate18 Hungarian Forint HUF foreign exchange rate19 Polish Zloty PLN foreign exchange rate19 The New EU States and their Adoption of the Euro Introduction The EU has grown in size with successive waves of accessions Denmark Ireland and the United Kingdom joined the founding members Belgium France West 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 new countries in 2004 Cyprus the Czech Republic Estonia Hungary Latvia Lithuania Malta Poland Slovakia and Slovenia Bulgaria and Romania expect to follow in 2007 while Croatia and Turkey began membership negotiations in 2005 In 1992 the EU decided to implement Economic and Monetary Union EMU incorporating the introduction of a single European currency managed by a European Central Bank The single currency - the euro - became a reality on 01 January 2002 when euro notes and coins replaced national currencies in twelve of the fifteen countries of the European Union Belgium Germany Greece Spain France Ireland Italy Luxembourg the Netherlands Austria Portugal and Finland ERM II is an exchange rate mechanism for EU countries who are currently not taking part in the monetary union It is up to each individual country to decide when to enter ERM II Participation means that
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA