Should the crisis be the trigger for a reshaping of euro-area entry rules?

Blog post

Should the crisis be the trigger for a reshaping of euro-area entry rules?

Publishing date: 10 November 2008
Authors: Zsolt Darvas

In this column Zsolt Darvas explains how some new EU member states that have not yet adopted the euro have come under much greater pressure during the financial crisis than nations in the euro area. He believes, however, that this does not mean the Maastricht criteria for euro entry ought to be relaxed. New member states suffering in the crisis are paying the price for their policy mistakes.

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About the authors

Zsolt Darvas

Zsolt Darvas is a Senior Fellow at Bruegel and a part-time Senior Research Fellow at the Corvinus University of Budapest. He joined Bruegel in 2008 as a Visiting Fellow, and became a Research Fellow in 2009 and a Senior Fellow in 2013.

From 2005 to 2008, he was the Research Advisor of the Argenta Financial Research Group in Budapest. Before that, he worked at the research unit of the Central Bank of Hungary (1994-2005) where he served as Deputy Head.

Zsolt holds a Ph.D. in Economics from Corvinus University of Budapest where he teaches courses in Econometrics but also at other institutions since 1994. His research interests include macroeconomics, international economics, central banking and time series analysis.