ECB's Liebscher: treat euro starters equally

...joining, European Central Bank Governing Council member Klaus Liebscher said on Tuesday.

New European Union states from eastern Europe will have to comply with a series of economic conditions before adopting the euro.

But some analysts have said poorer members should take more time to catch up with more developed nations before they apply for the euro.

Liebscher said his personal view was that real convergence, shown in income per capita, was part of a broad perspective which should be considered for entrants into the euro area.

"It is not easy, probably, to find the right balance, but to introduce new criteria, I'm not quite convinced that this is really the way, because they are not there, they are not in the treaty," Liebscher told journalists at an Austrian central bank conference in Vienna.

He said fulfilment of euro adoption criteria, comprising low inflation, public debt, fiscal deficit, interest rates and currency stability, must be met in a sustainable manner.

"(It is) the quality of meeting the nominal convergence targets on the one hand, but also an assessment on whether what happened only happened on the deadline of euro adoption, or whether it is sustainable, Liebscher said.

"Quality must not be compromised by speed."

He added that future members must obtain equal treatment when they are assessed for euro zone membership.

"For me... in the forthcoming assessment, as we have seen it also in the past, you need equal treatment."

Slovakia is the next member expected to apply to join the eurozone, with its target date of 2009.

Malta and Cyprus will enter the euro zone in 2008, and Liebscher declined to comment on a possible timetable of future enlargement. (Reporting by Peter Laca, editing by Tony Austin)

Keywords: EAST LIEBSCHER/EURO

[VIENNA/Reuters/Finance.cz]