European Monetary Union: operating monetary policy. (includes related article on the start of the European economic and monetary union): An article from: Finance & Development

This digital document is an article from Finance & Development, published by International Monetary Fund on September 1, 1996. The length of the article is 4203 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Members of the European Union must meet the Maastricht Treaty's criteria before they can join the economic and monetary union (EMU). To reach the third and final stage of the EMU, wherein the currencies of the participating EU countries are irrevocably locked and replaced by the single currency 'euro,' they must be able to satisfy the following convergence criteria: high degree of price stability, a sustainable government financial position, normal fluctuation margins for their exchange rates as determined by the European Monetary System's exchange rate mechanism, and a long-term interest rate that will support economic and monetary union. Aside from meeting these preconditions, unification also presents the challenge of adopting a monetary policy that is to be operated by a single monetary institution. Other operational challenges posed by European integration are discussed.

Citation Details
Title: European Monetary Union: operating monetary policy. (includes related article on the start of the European economic and monetary union)
Author: Charles Enoch
Publication:Finance & Development (Magazine/Journal)
Date: September 1, 1996
Publisher: International Monetary Fund
Volume: v33 Issue: n3 Page: p28(4)

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