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Unilateral Euroization in Central and Eastern Europe: Why the EU Should Support It

Author/Editor:	Jacek Rostowski
Source:	Wirtschaftspolitische Blatter, vol. 48, no. 5, 2001, pp. 539-44
Year of issue:	2001
Abstract:	The paper sets out the benefits for the transition applicant countries of unilaterally adopting the euro before they join the EU. Arguments against euroization are considered and dismissed. The reasons given by the EU for being against euroization are analyzed and rejected. It is further argued that: (1) unilateral euroization by transition countries is preferable to the traditional route to EMU membership also from the point of view of the present members of EMU; and (2) that the Maastricht inflation criterion is unsuitable for just growing countries and should be changed.


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