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This is a Special Report on Enlargement produced by the CEPS Macroeconomic Policy Group (MPG), composed of distinguished economists from throughout Europe. The study analyses the implications of the UK’s eventual entry into the Economic and Monetary Union and shows that most of the new member countries from Central and Eastern Europe have an interest in moving towards the euro rather quickly. A final chapter makes concrete suggestions for reforming the structures and procedures for decision-making within the ECB in view of enlargement.