Such a mutual improvement is desirable in a very broad sense: political stability, financial market stability, macroeconomic and – in the particular interest of the Eurosystem – price stability. There is no doubt that enlargement will encourage stability, growth and employment in a wider Europe.
There is a consensus that the accession countries will reap substantial growth and employment benefits from their membership in the European Union. Still, let me also add a word of caution in this context: It may take quite a while before new entrants will be in a position to fully harvest these benefits. A fair share of realism is called for to avoid disappointment.