Saturday, July 26, 2008
European Economic News, No. 10 June 2008
10:40 PM |
European Economic News, No. 10 June 2008
As we celebrate the first decade of Economic and Monetary Union (EMU) we should remember that the launch of EMU and the euro ten years ago marked a watershed in European integration. It transferred a core element of national sovereignty – monetary and exchange rate policy – to EU level, with far-reachingeconomic and political ramifications. For the international monetary system it was the most significant change at least since the end of the Bretton Woods system in the early 1970s. To mark this anniversary, the Commission has produced a report on the first ten years of Economic and Monetary Union that looks at its successes so far and the challenges it faces as it goes forward into its second decade in a changing global context.[Download]
As we celebrate the first decade of Economic and Monetary Union (EMU) we should remember that the launch of EMU and the euro ten years ago marked a watershed in European integration. It transferred a core element of national sovereignty – monetary and exchange rate policy – to EU level, with far-reachingeconomic and political ramifications. For the international monetary system it was the most significant change at least since the end of the Bretton Woods system in the early 1970s. To mark this anniversary, the Commission has produced a report on the first ten years of Economic and Monetary Union that looks at its successes so far and the challenges it faces as it goes forward into its second decade in a changing global context.[Download]
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