Article: EMU: HOW THE NEW MEMBER STATES ARE PREPARING TO TAKE ON THE EURO.

Three states are leading the pack. As paradoxical as it might seem, the countries aspiring to join the euro club less than three years after their entry into the EU are precisely the poorest of the ten new member states (Estonia, Lithuania and Slovenia have been participating in the new exchange rate mechanism since June 28, 2004). A second wave of euro adoptions is scheduled for January 1, 2008 concerning Cyprus, Malta and Latvia, all three of which signed up to the exchange rate mechanism on May 2). Slovakia has meanwhile set a target of 2009 and the Czech Republic 2010. Officially, Hungary is still aiming to switch to the euro in 2010, though its participation in the ...

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