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| Title |
The third stage of Economic and Monetary Union
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| Document type |
Synopsis
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| Source |
Pierre Gerbet. Translated by the CVCE.
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| Keywords |
Amsterdam European Council, convergence criteria, Dublin European Council , Economic and Monetary Union, ESCB, euro, European Central Bank, European currency, European Monetary Institute, European Monetary System, Masdrid European Council
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| Copyright |
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| Caption |
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| Location in the digital library |
HISTORICAL EVENTS >> 1998–2009 The unification of Europe >> The third stage of Economic and Monetary Union
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| Document extract |
The third stage of Economic and Monetary Union
At its Madrid meeting of 15 and 16 December 1995, the European Council adopted the scenario for the introduction of the single currency, scheduled for 1 January 1999, the target date set by the Treaty establishing the European Community, and determined the name of the currency — the euro — in all the official languages of the European Union. The logo and the designs for the notes and coins, which would replace the national currencies on 1 January 2002, were presented by Alexandre Lamfalussy, President of the European Monetary Institute, at the European Council meeting held in Dublin on 13 and 14 December 1996 and were finally approved by the 15 Member States at the Amsterdam meeting of the European Council which took place on 16 and 17 June 1997. It was then a matter of moving on to the implementation stage by creating the institutions and identifying the states that should be able to fulfil the conditions for adoption of the single currency and to comply thereafter with the rules of the Stability and Growth Pact adopted by the European Council in Amsterdam in June 1997. On the institutional side, the European System of Central Banks (ESCB) was established, comprising the central banks of the Member States, which had to be independent of their respective governments, and the Eur (...) Read more in ENA |
| See also |
Opinion of the European Central Bank on the European Constitution (19 September 2003)
Cartoon by Cummings on the United Kingdom and the euro (21 June 1997)
Address given by Willem F. Duisenberg at the inauguration of the European Central Bank (Frankfurt, 30 June 1998)
Article from the Treaty on European Union relating to the convergence criteria (7 February 1992)
Danish Government's official report on EMU (Copenhagen, 27 November 1989)
Council Regulation (EC) No 974/98 (3 May 1998)
Pamphlet published by the British Section of the European Movement on the single European currency (1996)
Alexandre Lamfalussy, President of the EMI
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