Strategy of Accession to ERM II Exchange Rate Mechanism by the Czech Republic

Strategie vstupu České republiky do kursového mechanismu ERM II

Jana Marková

Český finanční a účetní časopis, 2011, vol. 2011, issue 2, 18-36

Abstract: Submitted paper consists of an assessment of potential risks of the Czech Republic's entry to ERM II exchange rate mechanism based on both evaluation of ERM II mechanism itself and review of experiences of other countries that have already been or still are a part of this mechanism. The article is split up to three parts. The first one pays attention to a comparison of ERM II and EMS exchange rate mechanisms and interpretation of exchange rate stabilization criteria fulfillment by EU Commission and by European Central Bank. In the second part experiences of two countries are described. For the purpose of this description Denmark was chosen that has been a part of this exchange rate mechanism since very beginning of its functioning, and Slovakia that was a part of ERM II just for minimum requested period before euro adoption. The third part focuses mainly on risks of the Czech Republic's entry to ERM II.

Keywords: ERM II exchange rate mechanism; Exchange rate stability; Maastricht criteria; Euro; Kursový mechanismus ERM II; Kursová stabilita; Maastrichtská kriteria (search for similar items in EconPapers)
JEL-codes: F31 F33 (search for similar items in EconPapers)
Date: 2011
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DOI: 10.18267/j.cfuc.103

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