Global Recession Dashes Hopes of Eastern European Countries

Hungary, Poland and the Czech Republic will have to wait to join the euro zoneEastern European countries have been waiting a while to be able to join the euro zone. Not every European Union member nation gets to join the monetary union; there are a number of requirements that have to be met.

Up until the global financial crisis really hit this past summer, things looked good for the Czech Republic, Poland and Hungary. Now, though, investment in emerging markets has declined and the currencies of these nations are seriously damaged.

Now, plans to enter the euro zone have been  put on hold. Stability is required, and volatility has been almost through the roof. Now the timeline for joining the euro zone will have to be lengthened.

See Also

• Euro Zone News and Information
  Forex trading with the euro and other world currencies

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