Poland

IMF Urges Eastern European Countries to Go for the Euro

imf-building-1The International Monetary Fund issued today a statement by which it encouraged the Eastern European countries to adopt Euro as thei currency, in order to avoid the further effects of the financial crisis. An article published in Financial Times today mentioned that:

“For countries in the EU, euro­isation offers the largest benefits in terms of resolving the foreign currency debt overhang [accumulation], removing uncertainty and restoring confidence. Without euroisation, addressing the foreign debt currency overhang would require massive domestic retrenchment in some countries, against growing political resistance.”Read More »IMF Urges Eastern European Countries to Go for the Euro