Emu, Financial Markets and the World Economy: An Overview

EMU, Financial Markets and the World Economy, 2001

10 Pages Posted: 22 Mar 2006

See all articles by Thomas Moser

Thomas Moser

Swiss National Bank

Bernd Schips

Swiss Federal Institute of Technology (ETH)

Abstract

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

Moser, Thomas and Schips, Bernd, Emu, Financial Markets and the World Economy: An Overview. EMU, Financial Markets and the World Economy, 2001, Available at SSRN: https://ssrn.com/abstract=890496

Thomas Moser (Contact Author)

Swiss National Bank ( email )

Borsenstrasse 15
8022 Zurich
Switzerland
+41 1 631 32 20 (Phone)

Bernd Schips

Swiss Federal Institute of Technology (ETH) ( email )

ETH-Zentrum
CH-8092 Zurich
Switzerland

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