Critical issue: the single currency

Article Abstract:

European Union leaders have expressed a firm commitment to ensuring that the final stage of European monetary union (EMU) will begin as planned at the beginning of 1999. However, it seems increasingly likely that this will not happen unless France and Germany can overcome their fiscal difficulties. Indeed, the launch of EMU may have to be postponed indefinitely. It is vital that France and Germany participate if EMU does go ahead in 1999, and Austria, Belgium, the Netherlands and Luxembourg are also regarded as very important participants.

Administration of General Economic Programs, Intnl Economic Policy, Planning, International economic relations

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Critical issue: the single currency

Article Abstract:

Leading European companies believe that European monetary union (EMU) will help firms take advantage of the European single market, but many obstacles to EMU remain. A 1995 survey by Andersen Consulting showed that senior executives of leading European firms thought EMU would boost growth because of lower interest rates, lower inflation and reduced currency fluctuation. They also forecast cost savings because of lower hedging and exchange transaction costs. However, there are still political and economic obstacles in the way of EMU.

Economic aspects

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Critical issue: The single currency

Article Abstract:

The European economic and monetary union (EMU) will become operational on January 01 1999. Benefits for business will include lower costs of managing cash, bigger markets and less currency risk. Economic benefits will include price stability. However there are risks, such as technical problems with monetary policy, political tensions and the possibility that some EMU state may fail to maintain the discipline of the stability pact.

Europe, Monetary unions

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