The Maastricht convergence criteria and European Economic and Monetary Union

Abstract

This is an analysis of the extent to which European Monetary Union will affect the Maltese economy. This analysis is carried out by depleting two scenarios. Firstly, the implications of EMU on Malta as an outsider are examined. The implications for Malta as a future member of EMU are then analysed. Without any doubt, EMU will increase global competition. Thus, thus the main conclusion is that irrespective of whether Malta becomes a future member of EMU or not, Maltese entrepreneurs need restructure and to become more competitive if they want to survive in the international market.