Achieving the Economic and Monetary Union (EMU), from an economic point of view, meant in fact achieving a level of nominal convergence and also a major convergence of national policies by the Member States and strengthening a system of cooperation and multilateral surveillance. Starting from...

The accession to the Economic and Monetary Union, though not a criterion of accessing the European Union, involves the compliance with the convergence criteria of Maastricht: stability of the exchange rate, of interest rates, of the inflation, of the external debt and budgetary deficit. Even if...