FRANKFURT (MNI) – European Central Bank Governing Council member
Jose Manuel Gonzalez-Paramo on Friday pointed to the current challenges
facing some members of the Eurozone as evidence that sustainable
convergence of national economies is important.
“The decision to adopt the euro is a very fundamental one and
should not be taken lightly,” Gonzalez-Paramo said in a speech marking
the opening of the Euro Exhibition at the Bulgarian National Bank. “Very
careful preparation is required to ensure that convergence is
sustainable and participation in the euro area is successful.”
“Appropriate economic policies are necessary not only before but
also after the adoption of the euro,” he added. “The challenges that
some euro area countries are currently facing illustrate the importance
of sustainable convergence very clearly.”
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com —
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