These texts are an addendum to the texts originally published as Europaper No 7 "Compilation of community legislation and related documents", and should be read in conjunction with that work. A definitive version of the compilation will be published later in the year.

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...

The second report of the Giovannini Group "The EU Repo Markets: Opportunities for Change" was submitted to the European Commission on 26 October 1999. This report looks at the repo markets in the EU and highlights those areas that are most clearly in need of reform. The report offers practical...

the conculsions presented in the paper summarise the ideas of the a conference which aim was to to compare the situation of stock markets dedicated to innovative high-growth companies in Europe to the situation in the USA and to draw some lessons on what should be done to create an appropriate...

The paper discusses the impact of EMU on the 12 Mediterranean partner countries. It argues that the introduction of the euro is likely to have a positive, albeit limited, impact on the region. The Mediterranean partners will benefit from a more predictable and transparent external environment...

The changes that are taking place in the structure of the population of many Western countries are likely to require considerable adjustments in their social security programs. A partial shift from pay-as-you-go (PAYG) to funding is one of the solutions frequently considered. This paper, without...

There is a general consensus that monetary stability in Economic and Monetary Union (EMU) requires sustainable public finances of the member states. In order to maintain a high degree of sustainability in Stage III of EMU, attention might shift away from the numerical criteria regarding overall...