Stiffer tests for future Eurozone members -Welteke

- Central Banking staff
- 27 Nov 2000

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Ernst Welteke, president of the Bundesbank, has raised concerns about whether the countries preparing to join the European Union in the next few years would be ready to become members of the EU's single currency. It was legitimate to ask whether they should face stiffer scrutiny for joining the euro-zone in order to show that their membership was sustainable, he said.

Mr Welteke said the 12 applicant countries - 10 from central and eastern Europe plus Cyprus and Malta - would contribute only 7%

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