Emu, Financial Markets and the World Economy: An Overview
EMU, Financial Markets and the World Economy, 2001
10 Pages Posted: 22 Mar 2006
On January 1, 1999, 11 of the 15 member countries of the European Union(EU) entered the third and final stage of European Economic and Monetary Union (EMU). Notwithstanding some minor and quickly resolved problems in the TARGET payments system and some volatility in overnight interest rates, the introduction of the euro was smoother than many observers had previously expected. For the world economy, the euro's launch was the largest change to the international monetary system since the breakdown of the Bretton Woods system in the early 1970s. This paper gives an overview of the contributions to the conference EMU and the Outside World, which was held at the Swiss Federal Institute of Technology (ETH) in Zurich on December 11, 1998, i.e., on the eve of the final stage of European Economic and Monetary Union (EMU).
Keywords: EMU, international monetary system, euro
JEL Classification: F33, F36, F40, G10
Suggested Citation: Suggested Citation