ABSTRACT
Origins of EMU (1950s and 1960s) ..................................................................652 Werner Report and Community decision to create an EMU......................656 End of Bretton Woods system of fixed exchange rates and failure to create a European response.............................................................................659
European Monetary System..............................................................................664 Delors report........................................................................................................667 Intergovernmental Conferences and the Maastricht Treaty ........................671 EMU after Maastricht.........................................................................................673 Difficulties in the 1990s......................................................................................674 Preparing for the introduction of the Euro ....................................................678 Conclusion ...........................................................................................................679 Acknowledgment................................................................................................680 Endnotes...............................................................................................................680 References.............................................................................................................685
With the introduction of the euro the European Union (EU) has made a major step in its European unification process. Economic and Monetary Union (EMU) is without doubt one of the most ambitious and far-reaching projects that has come to fruition in the process of European integration that has taken place since the 1950s. This chapter will examine the process of creating
