EBRD Mirow: E Europe Euro Candidates Should Commit To Roadmap
FRANKFURT -(Dow Jones)- Eastern European euro candidate countries should lay
out a roadmap showing the path to fulfilling the currency criteria, said
European Bank for Reconstruction and Development head Thomas Mirow Thursday.
The adoption of a "credible and binding plan" for how to meet the criteria,
which include low inflation and stable foreign exchange rates, would inspire
investor confidence, Mirow said at a press briefing in Frankfurt.
European Union members from eastern Europe are legally bound to adopt the
euro, but many are far from fulfilling the criteria stipulated in the ERM II
exchange-rate mechanism framework.
Mirow also called for the development of financial markets in these countries
to be deepened, mentioning the development of local bond markets as one of the
key preconditions for stabilizing the region.
-By Roman Kessler, Dow Jones Newswires, +4969 2972 5514, roman.kessler@
dowjones.com
(END) Dow Jones Newswires
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