61. EMU And The Launch Of The Euro This process has not only led to emu. is the historically novel aspect of the euro, it is their national currencies with a common currency, while transferring http://www.ecb.int/key/sp990302.htm

EMU and the launch of the euro Speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank Academy of Social Sciences, Beijing 2 March 1999 Table of contents Introduction The international dimension of EMU The Eurosystem's monetary policy China's role in the world economy ... Concluding remarks I. Introduction It is a pleasure and honour to be here at the Academy of the Social Sciences, an institution known worldwide for its research on virtually all aspects of social and economic developments both in China and abroad. Today, I should like to speak about Economic and Monetary Union (EMU) and the launch of the euro. Money is one of the most interesting social phenomena, as I will try to illustrate with three observations. First, by fostering work specialisation the use of money can contribute significantly to economic developments. Second, money has played and will continue to play a major role in staging important international relations among countries. Third, money remains one of the most important symbols of national sovereignty, and, as historical experience shows, national and monetary territories normally coincide. The euro, as the European single currency, is likely to confirm the first two observations, while making a more novel contribution as far as the third one is concerned. As regards the first observation, the successful launch of the euro constitutes a milestone in the process of the European integration and is bound to have a profound impact on the euro area. Specifically, following almost a decade of economic convergence, the adoption of the euro is a major step in completing a fully integrated internal market in Europe by encouraging competition and innovation at the area-wide level. It lays a solid basis for sustainable growth and an improvement in the living standard of Europe's citizens.

62. The Role Of The Euro As A New European Currency changes which Economic and Monetary Union (emu) in europe comments on the introduction of the euro and the However, the launch of a new currency, historic as http://www.ecb.int/key/sp990929.htm

The role of the euro as a new European currency Speech delivered by Christian Noyer, Vice-President of the European Central Bank, at the European Institute in New York on 29 September 1999 Ladies and Gentlemen, It is a pleasure for me to be able to address you today and to share with you some remarks about the changes which Economic and Monetary Union (EMU) in Europe has brought about. In so doing, I should like to focus my comments on the introduction of the euro and the immediate implications for European and international financial capital markets, for central banking and the European economy as a whole. However, the launch of a new currency, historic as it was, does not constitute a one-off event. In fact, it is the longer-term dynamics of EMU which represent the great challenge for the years to come. In the second part of my address I should therefore like to touch upon some basic structural features of EMU - which have perplexed observers within the EU, but especially outside Europe - namely, how a single monetary policy can indeed function in the absence of a unified political entity. Before that, allow me to briefly explain our terminology, with which you may, as yet, be unfamiliar. The "Eurosystem" is the name given to the European Central Bank (ECB) and the - at present - 11 national central banks of those countries which have introduced the euro. The "euro area" is the term used to refer to these 11 countries. The "European System of Central Banks" also includes the central banks of the four EU-Member States which have not, as yet, adopted the euro.

63. The World Wide Web Virtual Library: EuroInternet: Euro-EMU 537 euroPortal – euroPortal is a private collection of Links dedicated to the euro currency and emu issues Your launchpad to the euro currency. http://eiop.or.at/cgi-bin/eurolink.pl?cmd=get&cat=44

64. Economic And Monetary Union Currencies conversion rates fixed by the european Council, emu national currencies are nondecimal subdenominations of the european single currency, the euro, just as the http://www.paranzasoft.com/FLhelp/pages/cuEMU.html

Economic and Monetary Union currencies To edit the Economic and Monetary Union currencies choose Edit Currencies in the Currency menu and open the Currencies window. Then click the EMU currencies tab. About EMU currencies The EMU national currencies are the currencies of the 12 member countries of the Economic and Monetary Union: Belgian Franc, German Mark, Greek Drachma, Spanish Peseta, French Franc, Irish Punt, Italian Lira, Luxembourgian Franc, Dutch Guilder, Austrian Schilling, Portuguese Escudo and Finnish Mark. On the basis of the irrevocable Euro conversion rates fixed by the European Council, EMU national currencies are non-decimal subdenominations of the European single currency, the Euro, just as the Pfennig or centime are (decimal) subdenominations of the German Mark or French Franc, respectively. What's in the EMU currencies list? On top of the list is the "None" currency that you can select if you want to use FinLease as a currency independent application. Next is the Euro, which is used by FinLease as the base currency for all currency conversions.

65. Currencies Use the Edit currency dialog to specify a symbol to be used instead of the ISO code, edit the currency s euro exchange rate (for nonemu currencies), select a http://www.paranzasoft.com/help/pages/cuOverview.html

Currencies FinKit lets you choose from 182 different currencies which are divided into three groups: Flags Group Description EMU currencies The Euro and the currencies of the 12 member countries of the Economic and Monetary Union. Online updates commonly used currencies whose Euro exchange rates can be updated online. Here yo u'll find the US Dollar and the Japanese Yen. Manual updates Currencies whose Eur o exchange rates need to be updated manually. Here you'll find currencies such as the Afghanistan Afghani and the Zimbabwean Dollar. FinKit also provides two "special" currencies: Flag Name Description None The "None" currency has neither ISO code nor symbol. Use it when you don't want an ISO code or symbol to appear on screen or in the saved results. The "None" currency is located at the top of the EMU currencies list. Custom Use the "Custom" currency if your currency is not available among the 182 FinKit currencies. The "Custom" currency is located at the bottom of the Manual updates list.

66. EurActiv.com Portal - LinksDossier - EMU And Euro On that day, the exchange rates of all emu currencies were irrevocably fixed and the euro was officially introduced as legal currency. http://www.euractiv.com/cgi-bin/cgint.exe?714&1015=9&1014=ld_emu

67. Guernsey And EMU currency units. My business has various emu country currency bank accounts. Can they be amalgamated into a euro account? Yes. Most http://www.gov.gg/emu/banksmain.htm

BANK PRODUCTS AND SERVICES What euro products and services will banks offer to Bailiwick businesses? It is likely that most Bailiwick banks will provide a comprehensive range of euro products and services to meet their business customer requirements. These products and services will probably include:- • electronic methods of controlling the management of funds and information; • euro-denominated bank accounts - current and deposit accounts, overdrafts and loans; • the ability to send and receive payments in euro; • the ability to draw and pay-in euro-denominated cheques; and • the ability to draw and process trade products, such as letters of credit and guarantees. If you have electronic systems provided by your bank to monitor your accounts, you should contact the bank and discuss your euro requirements. Will I be able to make payments in euro ? Yes. You should consult your bank for advice on the best way this can be achieved. Banks located in the territory of the European Union will be obliged not to pass on any costs resulting from converting sums denominated in national currency units into euro. Will euro-denominated bank accounts be available for businesses?

68. Guernsey And EMU The Maastricht Treaty enables other european Union countries to join emu and adopt the euro as their currency at any date after 1 January 1999. http://www.gov.gg/emu/countriesmain.htm

THE EMU COUNTRIES Who are the 15 Member States of the European Union? The European Union is comprised of Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden and the United Kingdom. How many Member States will participate in EMU? It was announced in May 1998 that 11 of the 15 Member States of the European Union will enter the third stage of EMU and adopt the euro when it is introduced on 1 January 1999. These countries and their currencies are:- Country Currency Sub unit Austria Schilling Groschen Belgium Franc Centimes Finland Markka Penni France Franc Centimes Germany Deutsche mark Pfennigs Ireland Punt Pence Italy Lire Centesimi Luxembourg Franc Centimes Netherlands Guilder Cents Portugal Escudo Centavos Spain Peseta Centimos Greece participates in the Euro from 1 January 2001 which increases to 12 the number of Mamber States of the Euro. The Maastricht Treaty enables other European Union countries to join EMU and adopt the euro as their currency at any date after 1 January 1999. The above 12 Member States are sometimes referred to as the participating countries, the e-12 countries, the euro area, euro land, the euro zone, the first wave, the founder members of the euro or the ‘in’ countries. Not all of these terms will be appropriate as the number of EMU countries increases.

69. The Birth Of The Euro And Its Impact On E-Commerce Current news, official documents, links to eurocurrency events, and online forums. http//www.euro-emu.co.uk; Official EU site for the euro http//europa.eu.int http://www.wilsonweb.com/wmt4/990101euro.htm

Home Search Consulting Professional Speaker ... Home Search this Site Search Articles Database Web Marketing Today (Free) E-Mail Marketing Marketing Tools Site Promotion ... Renewal Ministries: Internet Bible studies, articles, and short stories The Birth of the Euro and its Impact on E-Commerce by Bill Dunlap, Euro-Marketing Associates Web Marketing Today , Issue 52, January 1, 1999 Europe's single currency, the euro ( http://europa.eu.int/euro/ ), has finally become a reality after more than a decade of planning and preparations. In one stroke, the single currency has created the largest single economy in the world with a larger share of global trade and a greater number of consumers than the U.S. A European single currency has been a long-held ambition for members of the European Union (EU). The idea was first considered in the 1970s, but knocked off course by the oil price rises. It re-emerged in the early 1980s, and was finally agreed to in the 1992 Maastricht Treaty. There were many accounting criteria to be met by each country, such as the control of the rate of inflation and the debt/GDP ratio. ("GDP" is used in all countries outside the U.S. to represent the level of the economy there what Americans call the "GNP"). Most countries met these criteria in 1998 and were permitted to join the European Monetary Union. This goal has now been achieved by 11 countries. EU currencies like the German mark, French franc, and Italian lira are now merging to become the euro. It includes all European Union countries except the U.K., Sweden, Denmark and Greece. (Note: Norway and Switzerland are not members of the European Union, and neither are Eastern European countries).

70. Study Of The Implications Of EMU For Australia Following The Introduction Of The Foreign Affairs and Trade s study examines the likely impact emu and the euro will have the implications for trade, investment and foreign currency holdings http://www.dfat.gov.au/trade/emu/

Trade - Department of Foreign Affairs and Trade Australian Government Department of Foreign Affairs and Trade Skip to content About us Jobs Tenders ... Contact us Site Navigation: Travel Advice Country information Trade Global Issues ... Home Portfolio websites ACIAR AusAID Austrade EFIC Site tools Students Gateway Business Gateway Site Feedback Site Index Study of the Implications of EMU for Australia following the introduction of the euro on 1 January 1999 Executive Summary The entire study EXECUTIVE SUMMARY The commencement of the third stage of European Economic and Monetary Union (EMU) on 1 January 1999 when the euro is introduced, is a major step for Europe with far reaching political as well as economic implications. Eleven of the fifteen EMU countries (all except UK, Sweden, Denmark and Greece) will initially form part of the "Euro Zone". The Department of Foreign Affairs and Trade's study examines the likely impact EMU and the euro will have on European growth and our commercial relations with the EU, by analysing the implications for trade, investment and foreign currency holdings. Assuming a smooth launch of the euro, EMU is likely to have modest overall implications for Australia - at least in the short term - although the immediate impact on individual Australian exporters will vary depending on their exposure to the European market. The European business environment will become more competitive and exporters will need to respond accordingly. In time Australia could benefit from potentially higher levels of EU growth and lower long term interest rates, although the expected slow down in the EU in 1999 means that the trade diversion effects stemming from the euro, which will favour intra Euro Zone trade, is expected to overshadow the trade creation effects. However, this trend is likely to be reversed in the medium to long term.

71. Sveriges Riksbank/Riksbanken - EMU emu. The euro as a single currency. The cooperation within the european Union (EU) includes adopting a single currency the euro. http://www.riksbank.com/templates/Page.aspx?id=10455

72. Society, Government, Multilateral, Regional, European Union, Policies And Progra and monetary union on EUbusiness emu news, background and links; Economic theory of emu - Costs and benefits of a common currency. euro 2002 Information http://www.combose.com/Society/Government/Multilateral/Regional/European_Union/P

Top Society Government Multilateral ... UK Debate Related links of interest: Society:Government:Finance:Central Banks:Supranational:EMU Central Banks Regional:Europe:United Kingdom:Society and Culture:Issues:European Union:Euro Recreation:Collecting:Coins:World Coins:Europe - Short summary from the European Commission's office in London. Background Briefings - EMU - Short summary from the European Commission's office in London. Bibliography on Economic and Monetary Union - A complete list of research papers pertaining to the EU and the EMU, with many links to papers available online. A reference for students of Professor David L. Cleeton. Directorate General for Economic and Financial Affairs - Officieal site of the Directorate General for Economic and Financial Affairs of the European Commission. Archive of recent speeches. Links to relevant offices and email addresses. ECU-Activities - A quarterly journal, provides coverage of the European Monetary Union, with current articles, statistics and links. EMU and inflation - a civil liberty issue - This document discusses hidden dangers of emu inflation and contention between nations.

73. THE EURO OR THE EUROPEAN MONETARY UNIT Materials A classroom Atlas. A copy of the euro or emu (Economic Monetary Union) fact sheet (provided). A copy of the euro currency (provided). http://www.coe.ilstu.edu/iga/MAKeuro.htm

THE EURO OR THE EUROPEAN MONETARY UNIT Mary Ann Kurke Illinois Geographic Alliance Summer Geography Institute, 1998 Preview of Main Ideas This activity is designed to have students briefly learn about the European Union (EU), the countries involved, and some of the components of the EU agreement. The main focus of this lesson is to familiarize the student to the Euro, the new economic and monetary unit in the EU. The student will better understand the impact the euro will have on Western Europe. Connection with the Curriculum This lesson could be used in a geography, social studies, or math class. Teaching Level : Grades 5-8. Objectives Classification Outline Objective #1 : The student will analyze the benefits that one large European Union has over smaller individual countries. Essential Element: Human Systems. Skill Set #5: Answer geographic questions. Skill #1: Develop and present combinations of geographic information to answer geographic questions. Skill #2: Make generalizations and assess their validity. Theme: Regions and Movement.

74. APPENDIX 9: OUTLINE CHRONOLOGY OF EURO EVENTS the Member States of the EU confirm that eleven Member States, including Ireland, qualify to participate in emu and adopt the single currency, the euro, from 1 http://www.irlgov.ie/ecbi-euro/4th_annreport/w_apnd_9.htm

APPENDIX 9: OUTLINE CHRONOLOGY OF EURO EVENTS 7 February 1992 Treaty on European Union signed at Maastrict. 18 June 1992 Maastricht Treaty endorsed referendum in Ireland. 31 May 1995 European Commission publishes Green Paper on Practical Arrangements for the Introduction of the Single Currency. Autumn 1995 Single Currency Officers Team (SCOT) established in Ireland by the Department of Finance. December 1995 European Council meeting in Madrid confirms 1 January 1999 as the starting date for stage three of Economic and Monetary Union (EMU), adopts a reference scenario for the changeover to the single currency and names the currency "euro". Spring 1996 Euro Changeover Group established to advise the Department of Finance on technical issues in the run-up to the 1998 Council decision on which Member States qualify for EMU and to help coordination of the changeover across the economy. December 1996 Forfás EMU Business Awareness Campaign launched. December 1996 European Council meeting in Dublin confirms that the Treaty procedure for deciding which Member States fulfil the necessary conditions for EMU will be applied as early as possible in 1998. May 1997 First edition of "EMU and the euro: Ireland's National Changeover Plan" published.

75. Countries Business. Questions and answers about euro and emu. Links to euro currency news on ABC, BBC and CNN. Questions and answers about the euro. http://www.dad.be/eurocoach/links/default.htm

Below is a collection of useful Euro-related links. Please send your recommended links to: tekelenburg@eurochambres.be . Please mention "Links". European Investment Bank. This site provides projects, loans, resources, press releases and publications on Euro European Central Bank. Offers statistics, MFIs and assets, publications, EMI archives, links to EU Central Banks Preparing financial information systems for the euro; contents of the legal framework for the introduction of the euro, strategic and technical preparation Impact of the euro on commercial and tax accounting and on future business. This site also contains legal framework of the introduction of the euro ... Professional solutions to single currency computing. Press related to Euro, Euro keyboards, and links to other sites L inks to sites of the European Commission (press releases, official documents, access to Commission documents Links to site of the Council of European Union and European Parliament Site of the Court of justice of the European Communities (press releases, cases lodged, recent case-low, proceedings Site of the Economic and Social Committee of the European Union ... Site of EuroCommerce which provides news, latest press releases, contents, publications Eurochambres' EuroCoach project was made possible thanks to a cofinancement of the European Commission.

76. EURO - The Currency The euro explanatory notes euro Papers Nr.17 DG II, Feb/98 Monetary policy. emu. Single Market and the Single currency. http://www.itd.hu/euroinfo/eurocur.htm

Az EURO INFO KÖZPONT Könyvtárában megtalálható, az EURO-ról szóló könyvek, cikkek, kiadványok Your Business and the EURO - a strategic guide European Commission, Enterprise policy, 1999 The Challenge of Economic and Monetary Union; The Key to Unlocking the Euro; Impact Assessment Guide; Selecting a Euro Approach; Five Key Points to remember Round table on the Euro EUR-OP, 1996 Speches. Az Európai Unió egységes pénzügyi piaca és az ahhoz való csatlakozás kérdései MNB, 1995 az egységes pénzügyi térség fogalma és elõnyei a szolgáltatásnyújtás és a letelepedés szabadsága a Római Szerzõdés szerint. Hitelintézetekre vonatkozó EU szabályok és a harmonizáció kérdései. A bankokat érintõ egyéb irányelvek. EMU in Europe The Economist A survey of EMU, 1998, April The history of an idea Maastricht follies. Bank is born. Survey of financial Centres Economist,1998, May Capitals of Capital. Euro neurosis. Infoeuro EC, 1997, 98 information of the Euro External aspects of economic and monetary union Euro papers Nr.1 DG II, July/1997

77. IT-Analysis.com - Implications Of Euro Changeover To Notes A Banks inside the emu area are already issuing euro travellers cheques. They recommend that issuance of old national currency traveller cheques should cease http://www.it-analysis.com/article.php?articleid=8299

78. Pearson Books - The Euro And Britain coordination and economic adjustment in emu. Causes of euro instability. Did the successful emergence of the euro as an international currency trigger its http://www.pearsoned.co.uk/Bookshop/detail.asp?item=100000000016507

79. Foreign Affairs - Euro Fantasies: Common Currency As Panacea - Rudiger Dornbusch most likely scenario is that emu will occur but will neither end europe s currency troubles nor solve its prosperity problem. eurofantasies envision emu as a http://www.foreignaffairs.org/19960901faessay3403/rudiger-dornbusch/euro-fantasi

Euro Fantasies: Common Currency as Panacea Rudiger Dornbusch From Foreign Affairs September/October 1996 Article preview: first 500 of 4,148 words total. Summary: The battle for the common currency may be remembered as one of the more useless in Europe's history. The euro is hailed as a solution to high unemployment, low growth, and the high costs of welfare states. But the deep budget cuts required before integration are already causing pain and may trigger severe recessions. If the European Monetary Union goes forward, a common currency will eliminate the adjustments now made by nominal exchange rates, and the central bank will control money with an iron fist. Labor markets will do the adjusting, a mechanism bound to fail, given those markets' inflexibility in Europe. Rudi Dornbusch is Ford Professor of Economics and International Management at the Massachusetts Institute of Technology. Topics: Europe International Organizations Economics, Trade and Finance Constructing a European Market: Standards, Regulation, and Governance Michelle P. Egan. New York: Oxford University Press, 2001. Measuring the Costs of Protection in Europe: European Commercial Policy in the 2000s Patrick A. Messerlin. Washington: Institute for International Economics, 2001.

80. THE EURO RISK the risks to the US of the new european Economic and Monetary Union, and its new currency, the euro. The reason for concern is not that the emu will mean a http://www.nber.org/feldstein/eurorisk.html

Originally published in TIME (Europe) Magazine January 25, 1999 THE EURO RISK By Martin Feldstein A unified currency in Europe may spell more and different problems for the Continent and the US The American public and officials in Washington are underestimating the risks to the U.S. of the new European Economic and Monetary Union, and its new currency, the euro. The reason for concern is not that the EMU will mean a stronger Europe that can challenge the U.S. economy. Quite the contrary, the EMU is likely to weaken European economies, leading to more trade friction and economic isolation. But the most important problems the EMU can cause are political, bringing increased conflict within Europe and with the U.S. The EMU is ostensibly about substituting the euro for 11 national currencies and transferring responsibility for monetary policy from individual national central banks to a new European Central Bank, but the EMU's real importance is political. The advocates of the EMU see it as an important step toward creating a strong political union. The idea of a United States of Europe was conceived at the end of World War II by politicians who believed that abolishing national governments would prevent a repetition of the major wars that had engulfed Europe during the previous 75 years. Although this argument seems far less persuasive after 50 years of European peace, the single currency is applauded by European federalists as an important step toward a federal government. Since there is no major country in the world that does not have its own currency, abolishing national currencies is a major move toward abolishing European national states. When Spaniards and Italians have euros in their pockets instead of pesetas or lire, they are bound to feel more like "Europeans."

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