Price and output level convergence between new member states and the existing EU necessarily implies inflation and … nominal criteria are suspended, the policy instruments required to achieve euro convergence are in the hands of the individual …

the convergence criteria will be able to adopt a single currency, while the remaining peripheral countries will continue … to use their national monetary instrument until monetary convergence is attained. In this paper we accept the core …

westwards are to be avoided, there must be convergence in productivity levels. This paper analyses possible convergence paths … and the policy regimes which accelerate convergence. The intention is to illustrate the (albeit less extreme) problems … the aid of an econometric model, shows that convergence sufficient to avoid a `Mezzogiorno' problem is likely to be slow …

Of all the institutional arrangements for monetary union in Europe, the fiscal convergence criteria have proved the …