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. Already today, the euro is a key currency in Central and Eastern Europe.
In most of the CEECs’ monetary policy strategies, exchange rates play a vital role and, wherever they are not a formal or informal intermediate target, they are at least a key monetary policy indicator. It is the euro upon which the CEECs’ currencies are oriented, or to which they are formally linked.