Abstract
Only a limited number of countries will participate in the single currency area at its formation on January 1st, 1999. A new link between the currencies participating in the Euro zone and those unable or unwilling to do so must therefore be created. A new EMS, with the Euro as its anchor currency, must be installed to ease the path into EMU for those countries that wish to join at a later date.
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Randzio-Plath, C. A new exchange rate mechanism for the Euro age. Intereconomics 31, 277–281 (1996). https://doi.org/10.1007/BF02928607
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DOI: https://doi.org/10.1007/BF02928607