The new policy environment of EMU affects economic, political, and social cohesion in different ways: the policy mix … consequences in the short, medium and long run. Then the salient cohesion issues regarding Eastern enlargement are discussed …

The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its … of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the …

necessarily imply a possible disruption of EMU. In the paper two exercises are presented for assessing the impact of enlargement …The increased heterogeneity of the European market after the prospective joining of the acceding countries to EMU could … imperil the latter’s stability. It is widely expected that following enlargement the optimality conditions of the eurozone …

This paper explores the conflict of real and monetary convergence during the EMU run-up of the future Central and …

The enlargement of the European monetary union to include new EU Member States (NMs) will not lead to higher expected …

in the Council of Ministers, restructuring the ECB's Governing Council, and the setting of enlargement “examination … democratic legitimacy in an EU 27. We believe, however, that the impact of enlargement on the ECB's Governing Council merits also …, we argue that undertaking these reforms before enlargement should be a priority, not a precondition. Specifically, the EU …

At this moment in time, from all the 27 European Union member states only 13 are involved in the 3rd stage of EMU: the …

accession and during the period following EU accession but prior to EMU membership. We conclude that from an economic point of … view, EMU membership should be as early as possible, preferably at the same time as EU membership. The prevailing … interpretation of the exchange rate criterion for EMU membership is that it requires two years of successful membership in the …