Once the ECOFIN Council has decided that an EU Member State outside the euro area can adopt the euro, the country needs to prepare for example the cash changeover and the full integration of its central bank into the Eurosystem.
Malcolm Edey: The challenge of central clearing in OTC derivatives markets1 Address by Mr Malcolm Edey, Assistant Governor (Financial System) of the Reserve Bank of Australia, to the ISDA Annual Australia Conference, Sydney, 20 October 2011. *  *  *  Good morning, and thank you to ISDA for the opportunity to speak here today.