Stage III
The ERM-2 is sometimes described as "waiting room" for joining the Economic and Monetary Union of the European Union. In the EMU (stage III) the actual currencies in the participating member states are replaced by euro banknotes and coins; thus, entering the Euro Zone.
Read more about this topic: European Monetary System
Famous quotes containing the words stage and/or iii:
“I love the people,
But do not like to stage me to their eyes;
Though it do well, I do not relish well
Their loud applause and aves vehement;
Nor do I think the man of safe discretion
That does affect it.”
—William Shakespeare (1564–1616)
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