EIRP Proceedings, Vol 4 (2009)
Exchange Rate Targeting in New Member States of the European Union: New Times, New Challenges
Abstract
This article points out some of the challenges of the monetary authorities in countries which have fixed exchange rate arrangement. In the current crisis environment, the Baltic States and Bulgaria seem to have more problems than solutions. Though, the situation is not very appealing now and in the future, they could exploit the status of being pegged to euro, by adhering sooner to the euro zone than the Visegrad Group if they urgently correct the financial-budgetary and external imbalances.
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