Message:

<p>[QUOTE=&quot;chrisild, post: 41528, member: 39&quot;]Don&#039;t know how the euro will develop, but I know that a new member state cannot simply pick the parts of the Treaties that it likes, and ignore other parts <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />&nbsp; Sorry if the following is a little abstract ...</p><p><br /></p><p>When the European Union was founded (Maastricht Treaty, effective since 1993), it included the aim of a monetary union; see Art. 2 of the EC Treaty and the Preamble of the EU Treaty. However, at that time Denmark and the UK - countries that did and do not plan to introduce the European currency - were already members of the Communities. Legally any existing member state could have said No to the entire Maastricht Treaty (which would then have been &quot;dead&quot;). To prevent that, a deal was made; the two agreed to the treaty but could opt out of the currency union.</p><p><br /></p><p>However, any country that has joined the EU since then is, theoretically, obliged to introduce the euro, provided the member state in question meets the euro convergence criteria. </p><p><a href="http://europa.eu.int/scadplus/leg/en/lvb/l25066.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://europa.eu.int/scadplus/leg/en/lvb/l25066.htm" rel="nofollow">http://europa.eu.int/scadplus/leg/en/lvb/l25066.htm</a></p><p><br /></p><p>Now the Swedish example showed that, if a member state opposes joining the currency union, there are ways of &quot;voluntarily&quot; not meeting these criteria. It can simply decide to not join the Exchange Rate Mechanism (ERM-II) for example <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p>Christian[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in