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November 28th 2006

Euro to include more countries

The Euro common currency seems keen on inviting more countries to join. The only problem is that the EU has established prerequisites for membership that even current members would find difficult to satisfy. These terms are framed around stability, especially with regard to price, currency, the economy, and the budget. Slovenia and Estonia have satisfied the economic and currency requirements but are experiencing difficulty in managing their respective budget deficits and controlling inflation. Meanwhile, other countries, such as Sweden and Belgium, which are eligible for Euro membership, are having trouble garnering public support for the common currency. In short, it could be five years or more before the Euro expands to include more members. The Economist reports:

Westerners are starting to feel uncertain too. The Euro zone may already have too many misfits (Italy, for example, or Greece).

Read More: An Uncommon Current

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Posted by Adam Kritzer | in Euro, Politics & Policy | No Comments »

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