This paper addresses the issue of the transition from Stage Two of EMU to Stage Three. The criteria established in the …

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. The … exchange rate criterion for EMU membership requires that the candidate "has respected the normal fluctuation margins provided …

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 …

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 …

structural asymmetries relative to African economies to show that without the “operations account” mechanismn, the EMU advent is …

Two issues are discussed. The first is which countries might benefit from entry into EMU before the millennium. Germany … transition to EMU. Experience from earlier exchange rate regimes suggests that an early announcement of the parities at which … different currencies would enter EMU could reduce such instability if governments were willing to accept the required …

exchange rate movements and the relative output movements of potential members of a European Monetary Union (EMU). We find that … results make it hard to argue that the loss of exchange rate flexibility accompanying EMU would come at a significant cost to …

Monetary Union (EMU). …