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Financial Markets and Exchange Rates in Transition to the European Monetary Union
Intereconomics , 44(3), 2009, pp. 142-148
Abstract: This paper highlights that the EMU transition process itself can pose challenges to individual accession countries and draws policy implications for ERM II. Differences in financial market development and international liabilities underscore the risks and benefits of ERM II, and may lead to conflict between short and long-term policy objectives.
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