European Central Bank on the Eve of Enlargement. Monetary Policy and Decision Making Process. Assessment and Reform Prospects.
The 3rd of the CASE European Seminars series, a joint venture of CASE and the Leopold Kronenberg Foundation, was held on March 18, 2002 from 10:00 to 12:00 in the premises of Bank Handlowy, ul. Traugutta 7/9 (Leopold Kronenberg Conference Room).
Programme
- Monetary Policy Strategy for the European Central Bank
Prof. Dr. Gustav A. Horn, German Institute for Economic Research, Berlin.
Permanent Consultant of the Monetary Committee of the European Parliament
- ECB decision-making reform and EMU enlargement
Wojciech Paczyński, CASE - Center for Social and Economic Research
- Discussion
We are now in the fifth year of the functioning of the European Central Bank. Its performance up till now has been much better than predicted in various black scenarios. At the same time several spheres emerged where improvements are possible and necessary. The prospects of the EMU enlargement highlighted some of these and several important developments are expected in the course of 2003. The ECB will publish a review of its monetary policy framework and some changes to the ECB's monetary framework are likely. Moreover, a European Council decision is expected amending the voting modalities in the Governing Council following the ECB recommendation on this issued on 3 February.
All these developments will be important for the future functioning of the EMU and thus should be carefully followed in Poland and other countries aspiring to EMU membership. While Poland at present has limited impact on the changes at the ECB, this situation will change from May 2004.
