Getting Fit for the EU

A Currency Board for Poland
  • Andreas Freytag


After a more or less successful transition period, some Central European countries, among these Poland, are knocking on EU’s door. Negotiations are already under way, and there can be no doubt that EU-enlargement will finally take place. Full membership of new member countries in the European Union implies the eventual accession to EMU. For this purpose, low inflation and exchange rate stability for at least two years is a prerequisite. Apart from the wish to access EMU, price stability is beneficial as such. Only with price stability the mechanism of relative prices can work without distortions.


Monetary Policy Central Bank Fiscal Policy European Central Bank Capital Inflow 


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Copyright information

© Springer Science+Business Media New York 2001

Authors and Affiliations

  • Andreas Freytag
    • 1
  1. 1.University of CologneGermany

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