Buiter, Willem H.; Grafe, Clemens - In: Banca Nazionale del Lavoro Quarterly Review 55 (2002) 221, pp. 111-142
accession and following EU accession but prior to EMU membership. We conclude that, from an economic point of view, EMU … exchange rate criteria for EMU membership could lead to unnecessary delays in EMU membership for the accession countries …. Theexchange rate criterion for EMU membership requires that the candidate "has respected the normal fluctuation margins provided …