Those Central and Eastern European (CEE) states, that have joined the European Union (EU) in 2004, are on the verge of entering the European Economic and Monetary Union (EMU), and, by doing so, of adopting the Euro as a currency. Slovenia is an exception in many ways, and has already become a member of EMU in 2007. But is this a logical, necessary, or not avoidable next step towards deeper integration for the other new members of 2004 as well? Will the people in the CEE-member states benefit from this development?
This book focuses on the Czech Republic, Hungary, Poland, and Slovakia, countries that appear to be caught between the faltering economic effects of the Maastricht Treaty, and the possibilities of a financial crisis: EMU appears as safe haven against currency speculation but with the adoption of the strict rules of the Maastricht Treaty, states and governments abandon and cede measures to intervene into economic policy.
To understand better the current situation of CEE countries, authors of this book draw on the experiences of other countries. Can a financial crisis as in Latin America of the 1990s occur in Central and Eastern Europe as well? Will the Dollarization of the Latin American experience be followed by a Euroization in Europe? What are the similarities and what the differences of the experiences?