Ten years of European Monetary Union: What's gone right and What's gone wrong

Peter Kenen

International Journal of Economics and Business Research, 2010, vol. 2, issue 1/2, 6-9

Abstract: In 1991, the European Union undertook to form a full-fledged monetary union. It established the European Monetary Union with a European Central Bank (ECB) at its apex and a mandate to pursue price stability. The European regime differs from the US Federal Reserve System, which must pursue high employment as well as price stability, but the ECB's commitment to price stability did not prevent it from combating the global financial crisis that began in 2008. The crisis suggests, however, that the ECB should henceforth be involved in supervising large cross-border financial institutions.

Keywords: convergence criteria; Delors Committee; Delors Plan; ECB; European Central Bank; EMS; European Monetary System; EMU; Economic and Monetary Union; US Federal Reserve System; United States; USA; Maastricht Treaty; price stability; European Union; EU; cross-border financial institutions; prudential supervision; business research; Euro; banking crisis. (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=29725 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijecbr:v:2:y:2010:i:1/2:p:6-9

Access Statistics for this article

More articles in International Journal of Economics and Business Research from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().