In addition, computer professionals have known of this problem for years and are, I believe, universal in recognizing its importance. However, the story is more complex than these elements of resource contention; there are some benefits from having these two major systems changes in close proximity.
In line with the role given to the ECB by the Treaties, let me focus here on readiness and the role of ERM II in the euro area accession process. ERM II was introduced in 1999 as one of the ways to assess a country’s convergence with the euro area.