EU RAISES THE BAR FOR EURO ENTRY
Published:
22 May 2003 y., Thursday
The European Union's monetary affairs commissioner, Pedro Solbes, told reporters in Prague on 20 May that the currencies of EU applicant countries will have to remain within a +/-2.25 percent exchange-rate band for two years before those countries may adopt the euro, the Hungarian daily "Vilaggazdasag" reported on 21 May.
It was previously assumed that the present requirement to stay within a +/-15 percent band would be sufficient. Hungarian financial analyst Gyorgy Barcza of ING Bank told the daily that Solbes's remarks have at least clarified the situation. The narrower band allows room for neither anti-inflationary exchange-rate policies nor loose fiscal policies, Barcza added.
Šaltinis:
rferl.org
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »