chapter  5
21 Pages

European Monetary Union: one money, one Europe?

This chapter presents some closing thoughts of the concepts discussed in this book. The book examines the achievements and limitations of the reform process in the 1990s, focusing in particular on the Treaty of Amsterdam. It also examines the development of the European Community (EC) and European Union (EU) in the 1990s, focusing on the changes introduced by the 1992 Treaty on European Union and, in particular, the 1997 Treaty of Amsterdam. The 1995 Reflection Report identified three broad themes for the IGC: the citizen and the Union, an efficient and democratic Union, and effective external Union action. The EU's mechanisms to achieving Treaty change have been the subject of criticism, the 1996-97 IGC in particular proving ineffective in furthering long-term reform or strategic rethinking. The provisions on differentiated integration in the Maastricht and Amsterdam Treaties testify to the problems the EU already faces in managing diversity.