Issing on EU enlargement and monetary integration

In the speech 'EU enlargement and monetary integration' given on 22 October Otmar Issing of the ECB said the 10 countries that joined European Union in May should not rush to join the euro or the European Exchange Rate Mechanism II until they were really ready.

At the ECB conference, Issing said the adoption of the single currency itself would lead to further trade and financial integration for the new member states.

But he added: "(This) should not be misread as a prescription to adopt the euro

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