Öz European Parliament signed the ftamework agreement on October 3, 2005 for the launching of negotiations with Turkey on EU membership. At the end of the negotiations process, which is expected to last for a minimum of 10 years enabling the harmonization with the Acquis, upon approval of Accession Treaty by all member states, Turkey would be granted full membership. The compulsory membership to ERM2 following membership to EU requires conditions to be met even from today. Hence, the experiences of new member states will be enlightening for Turkey. The analysis and ezperiences of Czech Republic, Poland and Hungary-countries with similar econoınic past and implementing similar monetary policy- demonstrates that ERM2 membership which will happen after membership to EU requires the implementation of tight monetary and fiscal policy under inflation targeting and free float, financial deepening and continuance of structural reform.