Amsterdam - Dutch Finance Minister, Mr Gerrit Zalm, reiterated yesterday that only the fittest economies should be allowed to join Europe's single currency, further stoking a row over Italy's economic and monetary union (EMU) credentials.
In a written statement to parliament, Mr Zalm said EMU entry must be strictly based on criteria laid down by the Maastricht Treaty, and membership rules should be followed to the letter. He also said 10 countries, including Germany, France and Italy, were still not automatic qualifiers for EMU.
A report said Mr Zalm threatened to resign if the Netherlands agreed to Italy joining the single currency in the first wave in 1999. "We insist on strict application of the criteria, and we will not throw away our good guilder," Mr Zalm said.