10/10/2006 9:13:08 am
Munchau: Euro Delay Reason Behind Central Europe Problems. In the Financial Times yesterday, Wolfgang Munchau had an interesting column about the current difficulties in the main Central European countries Poland, Hungary and the Czech Republic. There are doubts about whether continued reform will be pursued, it is hard for governments to uphold macroeconomic stability, and the roles of important institutions - like the Polish Central Bank - are in doubt. Mr Munchau points out that the main reason for this is the fact that they have delayed their euro entries, a process that would have created support for reform and stable instutions.

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