EU enlargement and the euro
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The likely effect of the EU-15 turning into the EU-25 may not be as euro-negative as some euro sceptics believe, says Augusto Lopez-Claros, senior international economist at Lehman Brothers in London
The expansion of the EU in the years after 2004 is expected to put downward pressure on the euro, but this process will probably mean less to the single currency’s performance than the European Central Bank’s (ECB) record of stabilisation and structural policy adjustment
A number of factors are
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