New EU members and the €uro

dmeehan

will any of the new EU memebrs joining next year become €urozone members shortly after?

Or are their economies in a shambles?

Trebor

AFAIK,

thay have to meet certain requirments first like we did, but i think one or two are eligable to join the Euro.

or was it that one of the requirments for joing the EU was to have the Euro straight away......



Argh!! i can't remember!

dsab

Most of them won't join before 2010. The currently only country who would like to join earlier (2004) is Hungary, but they got already the information that it won't be before 2007.

Victor

Originally posted by dmeehan
will any of the new EU memebrs joining next year become €urozone members shortly after?

It will take time. For example a loaf of bread in Ireland costs about €1, in Poland it costs €0.25 and many other items are in similar proportion (some high value transportable items like say CDs would be much closer). If Poland immediatly joined the Euro, you would either be dealing with overnight hyper-inflation as the exchange rate is changed or gradual hyper-inflation over a year or two where everyone would be buying Polish products.

Originally posted by dmeehan
Or are their economies in a shambles?

Not necessarily, many of the ones that touch the EU already are doing quite well, GNP in parts of the Czech republic are above the EU average (this is artificial, because of the border).

rcunning03

will the euro coins be changing next year to show a map of 25 members instead of the 15 on coins now

mike65

I doubt it!

Mike.