Banque de France
The central bank of France. Established in 1800 and nationalized in January 1946, it was granted operational independence in 1993 as a preparation for European Monetary Union. It is now linked to the ...
convergence criteria
The economic tests used to determine whether member states of the European Union are ready to adopt the Euro, as set out in the 1991 Masstricht Treaty. The four principal criteria concern (i) the ...
euro
Name for the new currency that is due to come into being on 1 January 1999 following European Monetary Union (cf. Eurofed).
European Currency Unit
(Ecu)A unit of account introduced by the European Economic Community when forming the European Monetary System in 1979. The Ecu was a form of international money used by various official European ...
European economic integration
The process by which the various countries of Europe are becoming more closely linked, particularly in trade and finance. This is partly the result of natural economic developments: trade has ...
European Monetary Institute
A European organization that was set up to study the problems of organizing a European Central Bank.
European Monetary System
(EMS)A European organization set up in 1979 to coordinate monetary policy and exchange rates in Europe. Its main activities were running the Exchange Rate Mechanism and planning European Monetary ...
European Monetary Union Reference library
The Handbook of International Financial Terms
One of the objectives set by the European Community in the Maastricht Treaty of 1991. It involves the creation
hard European Currency Unit
(hard ECU).A proposal made by the UK in the move towards European Monetary Union to change the method of calculation of the European Currency Unit such that it would ...
Maastricht Treaty
A treaty on European economic and monetary union, agreed by the heads of government of the twelve member states of the European Community at a summit meeting in Maastricht in December 1991. ...
