conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty … Euro. " Unfortunately, most of these have potentially damaging side effects. One approach official Stage 2 offers of … contingent Euro forward contracts with value dates at the start of" Stage 3, allows a highly credible preannouncement of the …

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries … but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits … analyze the geography of international debt flows using multiple data sources and provide evidence that after the euro …