EMU and the Outsider Nations

Niels Thygesen

Chapter 2 in Macroeconomic Perspectives on the Danish Economy, 1999, pp 40-65 from Palgrave Macmillan

Abstract: Abstract It has been predictable since the drafting of the Maastricht Treaty in 1991 that not all EU Member States would join the third stage of Economic and Monetary Union (EMU) at the same time. Some might want to preserve a right not to join – an ‘opt-out’ – others were likely to find themselves unable to meet the economic criteria for entry. The Treaty therefore had to deal with the prospect of so-called ‘variable geometry’ in relation to EMU. Section 2.2 reviews how this was achieved.

Keywords: Exchange Rate; Interest Rate; Monetary Policy; Central Bank; Monetary Union (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50103-4_2

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DOI: 10.1057/9780230501034_2

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