RECENTLY EMPOWERED IMF WANTS EAST EUROPE TO ADOPT THE EURO

The IMF, recently empowered at the G20 summit in London last week, has suggested that Eastern and Central European countries who have not yet adopted the Euro do so, and without obeying the strict entry rules giving them no representation on the ECB power structure and thus little say in European monetary policy! This is basically Euroization by stealth, and is a very cheeky suggestion.

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From http://www.ft.com/cms/s/0/c40f80a0-2209-11de-8380-00144feabdc0.html

IMF urges eastern EU to adopt euro

By Stefan Wagstyl, Eastern Europe Editor

Published: April 5 2009 22:04 | Last updated: April 5 2009 22:04

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, says the fund.