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The Monetary Steps that Preceded the Introduction of the Euro
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Book Chapter
The Monetary Steps that Preceded the Introduction of the Euro
2019
Overview
Each country's monetary standard corresponded to a fixed weight of gold. The exchange rate between two currencies was determined by the weight of each currency in gold and remained stable, within narrow limits, called the “gold points”. The International Monetary Fund (IMF) was established on 27 December 1945 to promote international monetary cooperation, ensure exchange stability, facilitate the expansion and balanced growth of international trade, contribute to a high level of employment, economic stability and reduce poverty. The European Monetary Institute (EMI) was responsible for strengthening coordination between central banks and preparing for the creation of the European System of Central Banks (ESCB). It carried out simulations of systems and procedures during the second quarter of 1998 on monetary and exchange rate relations between the euro zone and the other countries of the Economic Union, within the deadlines that had been set.
Publisher
John Wiley & Sons, Incorporated,John Wiley & Sons, Inc
Subject
ISBN
9781786303134, 1786303132
