The Euro

Referat, Hausaufgabe, The Euro
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The Treaty of Maastricht The decisive step towards a unified, fully integrated, lasting and effective community of member states was the Single European Act (SEA come into force 1987), which was signed in Maastricht ( Treaty of Maastricht ) after a year of negotiations at government level. The Treaty of Maastricht, which came into force on 1 November 1993, is a covering agreement that creates a European Union with new aims. The Treaty envisages a European Union based on three pillars : Economic and Monetary Union common foreign and security policy co-operation in the spheres of justice and home affairs What exactly does the Treaty of Maastricht aim at? common security the introduction of a single currency that is comparable with the national currencies of the best performing member states turning the single European currency into one of the most stable currencies world-wide set up strong and balanced economic and monetary decision-making power a stage-by-stage movement towards to the economic and monetary union The timetable: EMU (European Monetary Union) is the consequence of the Single Market which came into effect in 1993 and is indispensable for the for the smooth functioning of the Single Market. The introduction of EMU is to take place in three phases: Phase A: listing the participating Member-States setting up the ESCB (European System of Central Bank) and the ECB (European Central Bank) Phase A II: Production of banknotes and coins Adoption of complete legal ...

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