17 January 2001, 14:53 ECB's Noyer says euro entry by new EU members will not weaken single currency
VIENNA (AFX) - The eventual adoption of the euro by new EU members
from central and eastern Europe will be positive for the single
currency rather than weakening it, European Central Bank vice-president
Christian Noyer said.
"It will not weaken the euro but on the contrary it will bring
additional dynamism to the euro zone," Noyer told a conference.
New members will only be able to join the euro when they have
converged sufficiently with the euro zone, he said.
"They will then be as solid as the core of the euro zone," he said
New EU members are expected to join the ERM2 system following their
entry into the EU and to meet the Maastricht treaty convergence
criteria before adopting the euro.
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