Home » Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union by Charles Enoch
Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union Charles Enoch

Some Issues in the Design of Monetary Instruments for the Operation of European Economic and Monetary Union

Charles Enoch

Published December 1st 1997
ISBN : 9786613797742
ebook
24 pages
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 About the Book 

Under the terms of the Treaty of Maastricht (Article 109f), the European Monetary Institute (EMI) was established to prepare for Stage 3 of European Economic and Monetary Union (EMU). One important part of its mandate was to develop in advance of theMoreUnder the terms of the Treaty of Maastricht (Article 109f), the European Monetary Institute (EMI) was established to prepare for Stage 3 of European Economic and Monetary Union (EMU). One important part of its mandate was to develop in advance of the earliest possible date for the start of Stage 3 (at that point the beginning of 1997) a framework for the operation of monetary policy for the European System of Central Banks (ESCB) in Stage 3.2 Under the statutes attached to the Treaty of Maastricht, the ESCB is to act in accordance with the principle of an open market economy with free competition, favoring an efficient allocation of resources....3 The EMI worked to this mandate, and published the results in January 19974 (denoted in this paper as the Report).