Practical issues arising from the introduction of the euro

Quarterly Bulletin 1996 Q4
Published on 01 December 1996

On 16 September, the Bank published its second report in a broadly quarterly series on practical issues arising from the introduction of the euro. Introducing the report the Governor explains the background to the Bank’s work in this area and the Bank’s main aims: to inform people about what is happening, to identify where co-ordinated action is needed, and to stimulate the private sector to plan as necessary for itself. The Governor stresses that the report is not about the pros and cons of EMU membership, but about the technical preparations necessary whether the United Kingdom is in or out. He concludes by arguing that, so long as we are properly prepared, the opportunities for the City far outweigh the risks. John Townend, Deputy Director of the Bank, goes on to explain the ground covered in the report, highlighting five key areas: payments, securities settlement, trading, legal aspects, and the work of the
EMI.

PDFPractical issues arising from the introduction of the euro


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