The European Union (EU) enlarged to 25 member states will start operating on May 1,2004.This paper, reviewing the position of the EU and of the Accession Countries (AC) in terms of Economic and Monetary Union (EMU) and adoption of the Euro, argues that the further integration in this area is...

The EU-25 will start operating on May 1, 2004. This paper reviews the position of the new Member States (NMS) in the Economic and Monetary Union (EMU) with respect to future adoption of euro. It argues that further integration in this area is much more about the deepening of the political...