The role of the European Monetary Institute

Quarterly Bulletin 1994 Q1
Published on 01 March 1994

The European Monetary Institute (EMI) is the chief institutional innovation of the second stage of Economic and Monetary Union (EMU) which began on 1 January 1994. T his article is concerned with what the Maastricht Treaty says about the role of the EMI. It examines the EMI's mandate, the part it will play in co-ordinating the work of the national central banks, its responsibilities for preparing for Stage 3 of EMU and its other advisory and operational functions. A box gives additional details on the organisation of the EMI.

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