The monetary integration of EU countries raises the issue of completing the enlargement process of the union by integrating former socialist countries not only economically, but also monetarily. Although unanimously recognized as a two step process, the full EU integration of transitional...

This paper is focused on the development of a proper macroeconomic strategy in the process of Poland's accession to the European Monetary Union. It is argued that due to legal and political considerations Poland may not opt out from EMU participation. The country will however command net gains...

This paper quantifies transparency of monetary policy in the three EU New Member States that have adopted direct inflation targeting strategy. Two measures of transparency are applied. The institutional measure reflects the extent to which a central bank discloses information that is related to...