Integracja Litwy, Łotwy i Estonii z Unią Gospodarczą i Walutową w kontekście nominalnych kryteriów konwergencji

Abstract

The aim of the article is the analysis and comparison of the level and the determinants of preparation of Latria, Lithuania and Estonia for entering eurozone in the context of nominal convergence criteria. Estonia fulfilled all the conditions and will become the member of eurozone in 2011. In Latvia and Lithuania the criteria of long-term interest rates and budget deficit are exceeded, in Lithuania with the addition of price stability criterion. The budget deficit reduction is the most important challenge for the Baltic countries. The advantages of entering eurozone by these countries cover intensification of trade among its members, increase in price comparability and more effective capital allocation and transformation. The main disadvantage is the risk of disparity of common monetary policy against the pace of economic development.