Economic and monetary union

Article Abstract:

The Economic and Monetary Union contains extensive provisions for the espousal of an integrated economic policy for all member states and the adoption of a single currency, plus a single monetary and exchange rate policy. The process of establishing the EMU will consist of three stages, the first of which was implemented on Jul 1, 1990 involving the compliance of members states with an Exchange Rate Mechanism and the setting up of a central bank for all member states. The next stage will be marked by the gradual move to streamline the economic functions of the member states and the setting up of various financial institutions for the entire European Community on Jan 1, 1994. The final stage will witness the full-scale implementation of the EMU on Jan 1, 1999, with provisions for a system that will monitor excessive deficit and provide the necessary remedial measures.

Planning, European Monetary System, Single European market

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The Soviet Union - business after the coup

Article Abstract:

Economic and political reforms are being carried out in the Soviet Union as a result of the Aug 1991 coup. The revamped political structure will consist mainly of the State Council of the USSR as directed by Soviet Pres Mikhail Gorbachev. The State Council's decisions are based on self-constructed procedures in which decisions are binding. These political reforms reflect the instability of the state's constitution and signify the implementation of necessary but extreme economic reforms. These reforms ironically met with great resistance prior to the August uprising. Employee turnover should be expected by businesses. The legal aspects of succession to obligations is a critical factor that businesses must also address.

Political aspects, Economic development, Powers and duties, Coups d'etat, Soviet Union, Soviet Union. State Council

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