2  BIS Review 7/2004  Moving towards the euro The Eurosystem has been engaged since 1999 in a constructive dialogue with the central banks of the acceding countries. The governors of these central banks already attend the meetings of the General Council of the ECB as observers and will as from 1 May 2004 be full members of that Council.
Enlargement of the EU will also lead to an expansion of the euro area at some time in the future. The main aim of the Eurosystem in this process is to ensure that the monetary integration of the new Member States proceeds in a smooth manner and in line with the Treaty provisions.