Abstract
From a purely economic perspective we find more arguments in favor of early EMU membership than against, since the New Member States have largely adjusted their economic policies, and economic indicators converge to the EMU average. The benefits of early accession (reduction of administrative costs, serious commitment, etc.) outweigh or even reduce most of the remaining risks. The only significant risk of early EMU enlargement for confidence in the Euro would emerge from the high level of bad debts in Poland and Malta, but this could be resolved within a year if serious action would be taken.
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