The European systems of central banks: quo vadis? From: Houston Journal of International Law | Date: January 1, 1999| Author: Deller, Patrick | COPYRIGHT 1999 Houston Journal of International Law. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

I. INTRODUCTION

After years of unsuccessful attempts to achieve monetary integration within the area of the European Union (Elf),(1) the Economic and Monetary Union (EMU), as set forth under the newly designed Treaty Establishing the European Community (EC Treaty),(2) entered the third and final stage of monetary integration on January 1, 1999.(3) There were two possible ways for the EU to enter the third stage of monetary integration. The first possible entrance procedu...

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