The present communication intends to provide a comprehensive assessment of the impact of the changeover to the Euro at the Community level andthe resulting affect on Member States. It reflects the outcome of preparatory work within the Commission , involving each of its services, and of contacts...

As from 1 January 1999, the competence for monetary policy, exchange rate policy and currency law for the Member States which adopt the single currency will be transferred to Community level. The monetary policy of the Euro area will be defined and implemented by the European System of Central...

Following the decision of the Madrid European Council on the scenario for the introduction of the Euro, the Commission has undertaken a number of initiatives, both in the legislative and practical field, in order to step up preparations in the private sector and the within public administration.

The Euro will be introduced gradually from 1999 to 2002. On 1 January 1999 the rates of conversion between the Euro and the Participating national currencies will be irrevocable fixed and the Euro will become a currency in its one right. At this date enterprises can begin operating in Euro. On...

The Maastricht Treaty provided the blueprint for achieving Economic and Monetary Union (EMU) as a further stage in the process of political and economic integration of the European Union (EU). In order to qualify to participate in EMU, Member States were required to achieve a high degree of...

This is the report to the European Commission of an expert group whose terms of reference are to consider whether banks are entitled to charge for conversion to the euro, whether they intend to do so, whether any new rules are necessary at EU level and how to ensure the transparency of any...

The decision to launch EMU has focused attention on possible asymmetries in output and prices responses to the single monetary policy across EU countries. Unfortunately, the numerous attempts to establish the extent of such asymmetries in the context of empirical macroeconomic models have not...

The advent of EMU inspired a large literature searching for differences in the monetary policy transmission among European countries. Stylised facts seemed to arise, classifying the countries as having either rapid or slow transmission. This paper takes a comprehensive look at the existing...