First RAstaNEWS Workshop25-06-2013
On June 25th, PISM (the Polish Institute of International Affairs) held a closed-door scientific workshop titled “Membership in the Reforming Euro Area: The CEE Perspective”.
At stake was the issue of the euro area enlargement to the CEE countries, with a special focus on Poland, the Czech Republic, and Hungary. The workshop gathered experienced economists, officials representing the European Central Bank, and officials from national central banks, as well as public administration officials, think-tanks representatives, and academics from all the Visegrád
The welcome speech was delivered by Prof. Artur Nowak-Far, Undersecretary of State for Legal Affairs and Treaties at the Polish Ministry of Foreign Affairs. Prof. Nowak-Far is author of numerous publications on legal and economic aspects of the Economic and Monetary Union. In his welcome address, Prof. Nowak-Far presented a broader context for building a currency union, and delineated its consequences for non-participating states. Read the text of Prof. Nowak-Far s speech.
The scientific workshop was structured in three blocks. During the first session, panelists discussed the general situation in the euro area, with a special focus on the situation in Germany before the September 2013 Bundestag elections.
The second session revolved around the assessment of the balance between the macroeconomic risks and benefits for EU members who accede to the euro area. The panelists analyzed the consequences of entering into the third stage of the Economic and Monetary Union (EMU) for the Slovak economy. Subsequently, the discussion concerned the possible benefits and risks for Poland and Hungary. The panelists also raised the issue of new additional self-imposed convergence criteria to better reflect real convergence with the euro area of new acceding countries.
The third session focused on the assessment of the ongoing reform process in the European economic governance and the possible implications for the non-euro area members. The panelists also discussed Czech and Polish political constraints concerning the euro area accession and their stance on the new EU system of economic governance.
The conclusions and recommendations drawn during the seminar will be covered in two reports to be delivered by PISM and accessible at PISM and at the RAstaNEWS project website.