ABSTRACT
Of all the events, both within and external to the European business environment, occuring over the coming years, none is likely to have as great an impact as the move towards Economic and Monetary Union (EMU). EMU is essentially about creating the conditions under which a single currency, the Euro, can be established and ultimately sustained within the EU’s borders. EMU’s establishment generally needs to be based upon four core facilitatory factors, namely:
• an evident need for EMU; • the willingness and ability of states to accept the economic implications of EMU; • the willingness of states to accept the political commitments implied by EMU; • the acceptance by all users of the new currency system.
