Moving towards EMU: the challenges ahead. (European Monetary Union)

From: National Institute Economic Review | Date: October 1, 1996| Author: | Copyright information

A number of important practical and policy issues have yet to be resolved as Europe moves toward a monetary union. Under the deadlines in the Maastricht Treaty, the transition to a European Monetary Union (EMU) is more than halfway to completion. Among the issues that have not been properly resolved are fiscal discipline among the participating governments, policy links between the states in the EMU, introduction of the changeover, the European Central Bank mandate, intermediate targets and other problems facing monetary policy in Stage 3. The UK needs to engage in exchange-rate cooperation ...

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