Abstract
After five enlargements, the major objective of is to have an efficient role in the global environment; by integrating all the European countries, each having different social, cultural, economic and political structures under the common ideal Single Europe which foresees peace democracy and welfare in the new millenniurn. The differences at the national level not only create variety in the Community but at the same time challenge the economic political and administrative harmonization and make the integration process more difficult in that respect. In the harmonization process, Turkey has to comply with the Copenhagen and Maastricht criteria (1993) in the field of economy, politics, social cohesion and law. The economic performance of the member and candidate countries are evaluated by five macroeconomic indicators to make sure that the candidate country has a stable economic environment and firm basis for integration before entering Euro Area. In this study, the economic performances of the member and candidate countries following the accession of new ten countries are analyzed based on Maastricht criteria and compared with the economic position of Turkey. Recently, Turkey has experienced positive developments in restoring stable macroeconomic environment. Under the Maastricht rules, fiscal indicators ore achieved as of 2005, and a convergence period has started for inflation and interest rates after the recent developments in the economy. Keywords: Maastricht Criteria, Exchange Rate, Fiscal Indicators.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call