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Analysis & opinionSeptember 1 2004

EMU could spawn new power bloc

All EU member states have ratified treaties that commit them to endeavouring to join the monetary union (EMU) – with the exception of the opt-outs negotiated by the UK and Denmark at Maastricht in 1991. What if a significant number of accession states stayed outside EMU for a long period? Would it affect the development of the rest of the EU?
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