Fahrholz, Christian H. - In: Journal of Theoretical Politics 19 (2007) 2, pp. 193-214
The Exchange-Rate Mechanism II (ERM II) is a Maastricht convergence criterion with which Central and Eastern European …€˜free lunch’ as it entails so-called costs of convergence. Starting from the point of view that these new members of the European … in CEECs - it is demonstrated that CEECs are able to pass some costs of convergence on to current EMU members: CEECs will …