Welteke against hasty Emu entry for new members

One day after the signing of the agreement in Nice, Bundesbank President Ernst Welteke has warned against the hasty acceptance of new members into the EU's monetary union.

The differences in the GDP of the countries in the Eurozone and the candidate countries could lead to conflicts and "stress situations" for the EU's monetary policy, Welteke said on Tuesday in a lecture to the American Chamber of Commerce in Frankfurt/Main. He demanded that the Maastricht criteria must be applied "strictly"