The Czech Republic and Bulgaria have also been able to fulfil the relevant capital account provisions of the acquis to a large extent. In Poland, Hungary, Slovakia and Slovenia there are restrictions on shortterm movements of capital, in particular. There are still a considerable number of restrictions in Cyprus, Malta and Romania.
While the liberalisation of capital movements is essentially non-negotiable, the timing and the scheduling of the liberalisation steps should be dependent on the macroeconomic facts and the stability of the financial sector. Free movement of capital actually represents an additional challenge for the economies concerned.