EU newcomers should not rush to join euro

European Central Bank chief economist Otmar Issing said Friday 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 an 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 overnight. Early adoption of the euro is