Did these turn out to be relevant issues?
Stability Pact under strain (inflexibility of SGP ‘stupide’ R. Prodi, Le Monde october 2003)
‘all the institutional preconditions for a stable currency and for steadily improving the prospects for long term economic growth are in place in Europe today.’ ECB Monthly Bulletin Feb 2003 p 47
‘Although the popularity of intermediate [exchange rate] regimes [similar to ERM II] in emerging markets has declined…. corner regimes are in a ‘trial phase’ … [and] …floating plus inflation targeting will be worth monitoring.’ Discussion of exchange rate regimes for emerging markets (eg new members) ECB Monthly Bulletin February 2003 p.62