UWAGA- JEŚLI W PARAMETRACH SĄ RÓZNICE DATY, STRON, WYDAWNICTWA ITP. PATRZ ZAWSZE NA OPIS AUKCJI ON JEST NAJWAŻNIEJSZY.

Strategy of EMU enlargement : background, optimal choices, consequences / ed. by Katarzyna Żurkowska, Dominik Sobczak

Warsaw : Inst. Wiedzy, 2004

251 s. : wykr. ; 24 cm

STRATEGY OF EMU

ENLARGEMENT

BACKGROUND, OPTIMAL CHOICES, CONSEQUENCES

Edited by

Katarzyna Żukrowska

Dominik Sobczak

Warsaw 2004

The publication was prepared in cooperation with the Office of the

European Integration Committee.

Projekt wydawniczy zrealizowano przy współpracy z Urzędem Komitetu

Integracji Europejskiej.

The publication was edited by:

Katarzyna Żukrowska Dominik Sobczak

Reviewers:

Prof. dr hab. Bazyli Samojlik Prof. dr hab. Kazimierz Starzyk

Text editor:

Dominik Sobczak

Cover design:

Dominik Sobczak

© Copyright by:

Warsaw School of Economics, International Security Department The Knowledge Institute, Warsaw 2004 ISBN: 83-89132-13-3

Publisher:

Instytut Wiedzy Szkoła Główna Handlowa Al. Niepodległości 162,

Printed and assembled by:

Sowa – Druk na życzenie, www.sowadruk.pl

Table of contents:

Introduction…………………………………………………………... 5 Acknowledgements…………………………………………………… 7 Part I. Fiscal and monetary strategies of CEEC accession to the EMU ……………………………………………. 9 Ryszard Michalski………………………………………………… 11 Remarks on the Polish strategy of accession to the EMU Renzo Orsi, Fabrizio Iacone ………………………………………. 17 Monetary policy strategies for accession countries Karel Zeman ……………………………………………………… 43 Social issues of EMU accession strategy – conflict of fiscal and monetary restrictions with social demands in the Czech Republic Vít Bárta ………..………………………………………………… 55 Strategy of Accession to the EMU and Possible Difficulty with Fulfilling the Maastricht Inflation Criterion: the Czech View Jan Isa, Ivana Sikulova …………………………………………… 67 Fulfillment of the convergence criteria in the Slovak Republic Eva Muchová …………………………………………………….. 81 Slovakia on the road to EMU Part II. Economic and political background for EMU enlarge

– – –

Katarzyna Żukrowska……………………………………………... 93 Fiscal policy in Poland after 1989 – background for growth stimulation in transforming and EU economies.

Practice and some generalizations Carlos Vieira, Sofia Costa ………………………………………… 131 Sustainability of Fiscal Policies in the EU and the CEEC Ryszard Wilczyński………………………………………………... 149 The euro after a half of a decade Tiiu Paas, Jaan Masso, Marit Rõõm-Hinnosaar, Christopher Schumann ………………………………………....…. 163 Income Inequality, Poverty and Unemployment as Main Social Consequences of Transition Processes in the Baltic States Dominik Sobczak

Preparation of Polish capital market for participation in the single financial market of the European Union Joanna Stryjek …………………………………………………….. 205 Sweden’s attitude to EMU and its influence on the policies of Denmark and the United Kingdom Małgorzata Grącik ……………………………………………….... 221 Institutional framework for transatlantic relations Part III. Strategy of EMU enlargement – voices in discussion ………………………………………..…... 239 Jan Krzysztof Bielecki …………………………………………..… 241 European Debate on Fiscal Discipline and Poland's Path towards Membership in the EMU Andrzej Sławiński …………………………………………………. 245 Commentary on Massimiliano Marzo’s paper “Monetary Policy” Jakub Borowski …………………………………………………… 249 Costs and benefits of EMU accession