The article examines how well Central and Eastern European countries are prepared for joining a monetary union by looking at how their business cycles align with other economies. The researchers found that while these countries have a medium-to-high level of synchronisation with reference economies, there are differences in the duration, depth, and timing of their business cycle phases compared to the euro area and the United States. These differences are influenced by the nature of small open economies and the specific economic policies of these former socialist countries.