Bundesbank: No hurry for candidates to adopt ERMII

The Bundesbank said in a report that no relaxation should be made of the Maastricht criteria for the new member states, noting that Hungary's budget deficit for 2002 was over 9% of GDP. The report said that most accession countries wanted to join the ERM as soon as possible after their accession to the EU. "But the optimal timing of this step is in question from an economic point of view," it said.

Source: Interfax-Europe

The accession countries to the European Union should consider well when t