In the 90's inflation was crazy there, for sure. In the run up to joining the single currency inflation definitely increased. My ex-wife was Polish and was looking at buying property out there. In the time she was looking prices had doubled.
I believe the joining country has to achieve exchange rate stability for two years and the nominal long-term interest rates of applicant nations must not have exceeded by more than 2% the average of the interest rates of the three member states with the best records on price stability.
What this neglects to cover is the years prior to that. A country can enforce very strict criteria in order to get itself into this position in the first place and this frequently happens. As long as they can then prove they have a stable economy as defined above (and in many other rules, this isn't a straightforward process), then they meet the acceptance criteria for the single currency.
I feel we may have digressed slightly from the original topic, as the UK was not in any danger of joining the Euro - I'd have certainly voted no to that.
Currently I see no reason to stay, any articles I see on the subject seem to be scare mongering and are debunked in short order.
I believe the joining country has to achieve exchange rate stability for two years and the nominal long-term interest rates of applicant nations must not have exceeded by more than 2% the average of the interest rates of the three member states with the best records on price stability.
What this neglects to cover is the years prior to that. A country can enforce very strict criteria in order to get itself into this position in the first place and this frequently happens. As long as they can then prove they have a stable economy as defined above (and in many other rules, this isn't a straightforward process), then they meet the acceptance criteria for the single currency.
I feel we may have digressed slightly from the original topic, as the UK was not in any danger of joining the Euro - I'd have certainly voted no to that.
Currently I see no reason to stay, any articles I see on the subject seem to be scare mongering and are debunked in short order.