At a time when the Euro is looking so weak, it is a wonder that so many countries are
still queuing up to join. Estonia has recently joined, while Hungary and Bulgaria are keen as mustard to join as well. Make no mistake, these countries want to join. They go to lengths to stay for
two years in the European Exchange Rate Mechanism, while keeping inflation inline with the EU average. At a meeting this morning, the Hungarian foreign minister capped off his country¹s EU
Presidency by declaring that Hungary is still focused on joining.
But, even if these countries did not want to join the Euro, or felt perhaps that the Greek crisis was a reason to postpone membership, they would have no choice. For despite a widespread belief to the contrary among their citizens, all EU member-states, except for Denmark, Britain and Sweden, are obliged to adopt the euro as their sole currency when they meet the criteria.
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