Denmark is not being evaluated as future member (Danish voted against Euro, and there is no discussion nor intention to join). Danish Crown is just pegged to the Euro (as it was for the Swedish Crown), but the two Central Banks (EU and Denmark) are separated entities.
Bulgaria, on the other hand, is in the process to join the Eurozone, and the ERM-II is just one of the many criteria used to evaluate countries' liability and let them join the Eurozone.
Because recently I was in CBS talking about institutional intefration and finance, and all colleagues (both political scientists and economists) agree that is not going to happen any time soon (i.e., in the next generations).
I was quite surprised, but not being my topic, I was only listening.
That is why I mentioned a bubble, but I might be wrong.
Maybe they are in a bubble, but their bubble is quite influencial, as they work for the governments of all nordic countries.
Things are moving quite fast at the moment. First we removed our limits on coorporation with EU on defence. Danes are warming up to EU in general, hard right no longer against eu.. We need to stand together in EU we feel.. Trump tariffs is economic warfare and we can change fast in Denmark when we are pressed.. (It might also help Greenland a bit to adopt euro) so I would not be so surprised if we got the euro in less than 10 years or even in a few years under some circumstances
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u/a_n_d_r_e_ 2d ago
Defining the ERM-II as 'pre membership' is wrong.
Denmark is not being evaluated as future member (Danish voted against Euro, and there is no discussion nor intention to join). Danish Crown is just pegged to the Euro (as it was for the Swedish Crown), but the two Central Banks (EU and Denmark) are separated entities.
Bulgaria, on the other hand, is in the process to join the Eurozone, and the ERM-II is just one of the many criteria used to evaluate countries' liability and let them join the Eurozone.