Progress toward a European monetary union. (includes related articles)

Federal Reserve Bulletin | October 1, 1991| | Copyright

Herve Carre, of the staff of the Commission of the European Communities and currently visiting the Board, and Karen H. Johnson, of the Board's Division of International Finance, prepared this article.

Economic and monetary union has been a longstanding ambition of the European Community. The Heads of State or Government of the member states of the European Community first put it forward as an objective in 1969. Yet only recently has the commitment to economic and monetary union (EMU) been reconfirmed and a strategy for implementing it been defined. In the past three ...

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