The Treaty establishing the European Community sets out the process of achieving Economic and Monetary Union in the European Union in three stages.Stage One of EMU started in July 1990 and ended on 31 December 1993. It was mainly characterised by the dismantling of all internal barriers to the free movement of capital within the European Union.
Stage Two began on 1 January 1994. It provided for, inter alia, the establishment of the European Monetary Institute (the forerunner of the European Central Bank), the prohibition of financing of the public sector by the central banks and of privileged access to financial institutions for the public sector, and the avoidance of excessive deficits.
Stage Three started on 1 January 1999 with the transfer of monetary competence to the Eurosystem and the introduction of the euro.
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Sexual Intercour...
Euro
Ecology
Economic Performance
