Crisis-hit European Union states in central and eastern Europe should consider scrapping their currencies in favour of the euro even without formally joining the eurozone, according to the International Monetary Fund. The eurozone could relax its entry rules so countries could join as quasi-members, without European Central Bank board seats, the FT reported, citing a previously-confidential IMF report compiled last month.

This entry was posted by Stacy-Marie Ishmael on Monday, April 6th, 2009 at 5:11 and is filed under Capital markets. Tagged with Eastern europe, euro, IMF. Edit this entry.