Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 83
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Book Description
On 1 January 1999, the euro became the single currency of eleven EU Member States, thereby replacing the different national currencies at the respective irrevocably fixed conversion rates. The Member States concerned ceded their monetary policy powers to the European System of Central Banks (ESCB) and, while the Council of Ministers became responsible for the euro area's exchange-rate policy. The participating Member States thus lost their competence to decide on monetary and exchange rate policy issues, and hence also to conclude monetary or exchange-rate agreements with third countries. Such agreements have now come within the exclusive competence of the Community as far as they relate to the euro.
Author: Baudouin Lamine
Publisher:
ISBN:
Category : European Economic Community countries
Languages : en
Pages : 102
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Book Description
Recoge: 1. Executive summary. - 2. The EC legal basis for concluding monetary and exchange rate agreements: Art 111 EC. - 3. Type of agreements with third countries and territories: exchange rate agreements and monetary agreements. 4. Formal exchange rate agreements with third countries or territories. - 5. Formal monetary agreements with third countries. - 6. The specific cases of Saint Pierre-et-Miquelon and Mayotte. - 7. Third countries or territories de facto (not iure) using the euro or thecurrency of a non-participating Member State. - Annexes - Maps.
Author: Ramona Kraft
Publisher: GRIN Verlag
ISBN: 3638685896
Category : Business & Economics
Languages : en
Pages : 18
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Book Description
Essay from the year 2006 in the subject Economics - Monetary theory and policy, grade: 1,4, Dublin City University (Business School), course: Course EU Politics, language: English, abstract: The creation of the European and Monetary Union (EMU) has been one of the most determined and successful projects carried out by the European Union (EU) – and it is still in progress since eleven EU-countries are, following the Maastricht treaty, legally required to join the Eurozone as soon as they meet the convergence criteria. The reasons for the creation of EMU have been widely discussed among scholars; some focus on the request for political integration that would resulted from an EMU, some claim that the EMU was established to promote growth and investment. The assignment will hence “discuss how the creation of EMU was both an economic and politically driven process”. Chapter 1 outlines events and agreements which indirectly led to the EMU. Chapter 2 assesses the Delors Report and the Stability and Growth Pact (SGP) which affect EMU directly . Chapter 3 concludes by analysing the mentioned 30-year process leading to the EMU and gives a brief outlook. This approach has been chosen because it is essential to study the historical events leading to the Delors Report and finally the Treaty on European Union (TEU) in order to analyse the creation of EMU.
Author:
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Recoge: 1. Primary law - 2. Economic policy coordination - 3. Introduction of the euro - 4. Exchange rate mechanism in the third stage of the EMU - 5. External representation of the Community - 6. Statues of the Committees - Tables of equivalences referred to in Article 12 of the Treaty of Amsterdam (extracts) - Annex: List of other legal and political texts concerning economic and monetary union.
Author: Tommaso Padoa-Schioppa
Publisher: OUP Oxford
ISBN: 0191521698
Category : Business & Economics
Languages : en
Pages : 276
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Book Description
This book provides an indispensable guide to the economic, political and diplomatic process that led to the creation of the European single market and the signing of the Maastricht Treaty. In this new, expanded edition Padoa-Schioppa presents a lucid assessment of the opportunities and risks that EMU entailed; assesses the economic, monetary, political, and institutional significance of the euro; and reconsiders the rationale and underlying philosophy of EMU in the light of recent developments. Padoa-Schioppa has brought together a selection of his papers and speeches, covering 1982-94, from his work as Deputy Director General of the Banca d'Italia, and has edited them thoroughly to illuminate the recent history of European integration. A central theme of his book is the belief that a group of sovereign countries cannot for long sustain free trade, unrestricted capital movement, fixed exchange rates and full autonomy of national macroeconomic policies, and so need to move towards a single currency. He discusses extensively such issues as the single currency, the tasks of a European central bank, the ECU, the role of budgetary rules, currency competition, and the relationship between EMU and political union. The author has created an insider's guide to this topical issue for students, academics, policymakers and commentators alike. This book contains extracts from documents and an extensive chronology which will be of particular use for readers.
Author: Klaus Gretschmann
Publisher: Martinus Nijhoff Publishers
ISBN: 9004637923
Category : Law
Languages : en
Pages : 298
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Book Description
The Heads of State and Government at the European Council meeting in Maastricht definitely decided to embark upon the creation of Economic and Monetary Union by, at the latest, the beginning of 1999, and in doing so opted for a relatively short but difficult journey that should bring the European Community all the benefits one could expect from such an undertaking. However, the question still remains of how Economic and Monetary Union will really affect the day-to-day policymaking of the national civil servants involved, particularly in the areas of monetary and fiscal policies. Can national policymakers adopt a `sit-and-wait' policy or does Economic and Monetary Union really entail a dangerous voyage between Scylla and Charybdis? Will Economic and Monetary Union undermine the sovereignty of national governments because the Maastricht Treaty will give the EC the competence to dictate its own will? Are the benefits of Economic and Monetary Union for the Member States really as great as expected? These and other issues are assessed in this book which, after an assessment of the achievements of the Maastricht European Council, will cover the main implications of a European monetary policy and closer economic cooperation for the relevant policies of the Member States, the division of the competences between Community and member countries and the forthcoming prospects for new EC policies (e.g. regional policy, the EC budget, fiscal union, etc.)
Author: Silvia Marengo
Publisher: Grove/Atlantic
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 260
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Book Description
The question as to the choice of the optimal exchange rate system to be adopted among MERCOSUR countries becomes critical if MERCOSUR states attempt to go further along the path of increasing their trade flows of goods and services. The study contributes to filling this gap by providing some alternative answers to this issue. The analysis has been based on three pillars: a theoretical review of exchange rate systems: a review of the European experience; and an analysis of the Latin American experience.
Author: Michael Emerson
Publisher: CEPS
ISBN: 9290797339
Category : Andorra
Languages : en
Pages : 152
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Book Description
Author:
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
This publication is a compilation of legal texts and political agreements which have been approved by the Council of the EU or the European Council, and which are essential for the implementation of monetary union.
Author: Michael Emerson
Publisher:
ISBN: 9780198773245
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
The European Community is negotiating a new treaty to establish the constitutional foundations of an economic and monetary union in the course of the 1990s. This study provides the only comprehensive guide to the economic implications of economic and monetary union. The work of an economist inside the Commission of the European Community, it reflects the considerations influencing the design of the union. The study creates a unique bridge between the insights of modern economic analysis and the work of the policy makers preparing for economic and monetary union.
