The second stage of Economic and Monetary Union
The second stage of Economic and Monetary Union
The establishment of the European Monetary Institute
Protocol (No 19) on the Statute of the EMI (Maastricht, 7 February 1992)
TextProtocol (No 19) annexed to the Treaty establishing the European Community by the Treaty on European Union signed in Maastricht on 7 February 1992 which establishes the Statute of the European Monetary Institute (EMI).
‘For starters, controversy over powers' from the Frankfurter Allgemeine Zeitung (10 January 1994)
TextOn 10 January 1994, commenting on the first working session of the Council of the European Monetary Institute (EMI), the German daily newspaper Frankfurter Allgemeine Zeitung outlines the EMI’s powers.
‘The birth of the EMI, the precursor to a Central Bank for the Twelve' from Le Monde (12 January 1994)
TextOn 12 January 1994, commenting on the inauguration of the European Monetary Institute (EMI) in Frankfurt, the French daily newspaper Le Monde outlines the Institute’s missions and powers in light of the transition to the second stage of Economic and Monetary Union (EMU) on 1 January 1994.
Address given by Alexandre Lamfalussy on the role of the European Monetary Institute (Paris, 15 February 1996)
TextOn 15 February 1996, Baron Alexandre Lamfalussy, President of the European Monetary Institute (EMI) in Frankfurt, delivers an address to the Paris Institute of Banking and Financial Studies in which he outlines, in particular, the role of the EMI in the preparations for the establishment of the future European Central Bank (ECB) and in the introduction of the single European currency.
Address given by Wim Duisenberg on the EMI and progress towards EMU (Hong Kong, 22 September 1997)
TextOn 22 September 1997, at the International Banking Seminar in Hong Kong, Wim Duisenberg, President of the European Monetary Institute (EMI), delivers an address in which he outlines the tasks and the role of the EMI in the implementation of the European System of Central Banks (ESCB) with respect to the preparations for Economic and Monetary Union (EMU) and to the introduction of the euro.
European Monetary Institute/European Central Bank
BildThe Eurotower, in Frankfurt-am-Main, was the home of the European Monetary Institute (EMI) from 1 January 1994 before becoming the seat of the European Central Bank (ECB) on 30 June 1998.
The European Monetary Institute (1997)
TextThis booklet, published in 1997, outlines, in particular, the successive stages of the establishment of Economic and Monetary Union (EMU) as well as the powers, organisation and operation of the European Monetary Institute (EMI).
Interview with Alexandre Lamfalussy: the aims and establishment of the European Monetary Institute (Brussels, 18 March 2010)
VideoIn this interview, Alexandre Lamfalussy, General Manager of the Bank for International Settlements (BIS) from 1985 to 1993 and President of the European Monetary Institute (EMI) from 1994 to 1997, describes the aims, the establishment and the working methods of the EMI.
Interview with Alexandre Lamfalussy: the main decisions taken by the EMI (Brussels, 18 March 2010)
VideoIn this interview, Alexandre Lamfalussy, General Manager of the Bank for International Settlements (BIS) from 1985 to 1993 and President of the European Monetary Institute (EMI) from 1994 to 1997, describes the main decisions taken during his term as President of the EMI, particularly the monetary policy instruments and preparations for a European monetary policy strategy.
The second stage of EMU (01.01.1994 – 31.12.1998)
Article from the Treaty on European Union relating to the convergence criteria (7 February 1992)
TextOn 7 February 1992, in Maastricht, the representatives of the Twelve sign the Treaty on European Union. The Treaty enters into force on 1 November 1993 and establishes an Economic and Monetary Union (EMU) which will ultimately lead to a single currency.
‘Gone with the euro’ from Le Monde (28 April 1998)
TextThis article from the French daily newspaper Le Monde speculates on relations between the path to the euro and the reunification of Germany, and more generally the end of the division of the European continent.
Address given by Jean-Jacques Rey on EMU on the eve of the second stage (21 December 1993)
TextOn 21 December 1993, in an address to the Belgian Section of the European League for Economic Cooperation (ELEC), Jean-Jacques Rey, Director of the National Bank of Belgium (BNB), gives a progress report on Economic and Monetary Union (EMU) on the eve of the transition to the second stage, scheduled for 1 January 1994.
Council recommendation on the broad guidelines of the economic policies (22 December 1993)
TextOn 22 December 1993, prior to transition to the second phase of Economic and Monetary Union (EMU), the Council adopts various guidelines concerning the economic policies of the Twelve.
‘Second stage of Economic Union' from Le Monde (4 January 1994)
TextOn 4 January 1994, the French daily newspaper Le Monde analyses the implications of the transition to the second stage of Economic and Monetary Union (EMU).
‘The good single currency doctor’ from L’Expansion (6 January 1994)
TextOn 6 January 1994, the French weekly economics magazine L’Expansion portrays the Belgian Baron Alexandre Lamfalussy who, since 1 January, has been President of the European Monetary Institute (EMI) in Frankfurt which has responsibility, in particular, for the final stage of Economic and Monetary Union (EMU) and for the preparations for the introduction of the single European currency.
Alexandre Lamfalussy, President of the EMI
BildBaron Alexandre Lamfalussy of Belgium, President of the European Monetary Institute (EMI) in Frankfurt from 1994 to 1997, holds aloft a sheet of banknotes printed in the new single currency.
Presentation of the design for the euro banknotes (Dublin, 13 December 1996)
VideoOn 13 December 1996, on the margins of the Dublin European Council, Alexandre Lamfalussy, Belgian President of the European Monetary Institute (EMI), presents to the press the design of the future euro banknotes.
Press conference held by Yves-Thibault de Silguy in Brussels (31 May 1995)
VideoOn 31 May 1995, Yves-Thibault de Silguy, European Commissioner for Economic and Financial Affairs, Monetary Matters, Credit and Investments and the Statistical Office, holds a press conference in Brussels during which he outlines the advantages of the European single currency and sets out the schedule for the establishment in stages of Economic and Monetary Union (EMU).
‘In the safety net of the exchange rates’ from the Frankfurter Allgemeine Zeitung (12 April 1996)
TextOn 12 April 1996, commenting on the negotiations on Economic and Monetary Union (EMU), the German daily newspaper Frankfurter Allgemeine Zeitung outlines the possible scenarios for the adoption of a European exchange rate system.
‘Who will manage the Euro economy?’ from L’Expansion (13 June 1996)
TextOn 13 June 1996, the French weekly economics magazine L’Expansion comments on the progress of Economic and Monetary Union (EMU) and highlights the difficulties in establishing a ‘European economic government’ which is able to counterbalance the independence of the European Central Bank (ECB) in the area of monetary policy.
'Euro and economic reality collide' from The Guardian (23 September 1996)
TextOn 23 September 1996, the day after the meeting in Dublin of the Finance Ministers of the Member States of the European Union, the British daily newspaper The Guardian comments on the obstacles which the Fifteen may face in implementing Economic and Monetary Union (EMU).
"Le consensus de Dublin" dans El País (25 septembre 1996)
TextLe 25 septembre 1996, le quotidien madrilène El País commente le consensus arraché le 21 septembre à Dublin par les ministres des Finances des Quinze en matière d'Union économique et monétaire (UEM).
The second stage of EMU (01.01.1994 – 31.12.1998)
Statement by Jacques Santer on the implementation of the single European currency (Brussels, 14 November 1996)
VideoOn 14 November 1996, Jacques Santer, President of the European Commission, announces the introduction and entry into circulation of the euro and outlines the economic, monetary and political advantages of the single currency for the European Union members of the euro zone.
Statement by Yves-Thibault de Silguy on the establishment of the single European currency (Brussels, 14 November 1996)
VideoOn 14 November 1996, Yves-Thibault de Silguy, Member of the European Commission with special responsibility for economic and financial affairs, monetary matters, loans and investment and the Statistical Office, draws up a list of advantages of the euro and outlines the Commission’s communication strategy for informing European citizens about the various stages in the transition to the single currency.
‘Fifteen egoists’ from Die Zeit (27 September 1996)
TextOn 27 September 1996, the German weekly newspaper Die Zeit comments on the meeting held on 21 September in Dublin between the Finance Ministers of the Member States of the European Union (EU) and paints a critical picture of the economic situation in the EU.
Resolution 1109 (1997) of the Parliamentary Assembly of the Council of Europe (28 January 1997)
TextOn 28 January 1997, the Parliamentary Assembly of the Council of Europe adopts a resolution on the consequences of Economic and Monetary Union (EMU) and of the introduction of a single currency in Europe.
‘The conditions for the transition to the euro are becoming clearer by the day’ from Europe (26 May 1997)
TextOn 26 May 1997, Ferdinando Riccardi, Editor-in-Chief of Agence Europe in Brussels, welcomes the positive signs regarding the transition to the third stage of Economic and Monetary Union (EMU) on 1 January 1999 and the introduction of the euro.
'The last touches for euro' from Crocodile (1997)
TextIn 1997, in an article in the Federalist monthly journal Crocodile, Yves-Thibault de Silguy, Member of the European Commission with special responsibility for Economic, Financial and Monetary Affairs, outlines the issues involved in the practical aspects of the gradual transition to Economic and Monetary Union (EMU) and of the introduction of the euro.
Interview with Jacques Santer: the second stage of Economic and Monetary Union (Sanem, 6 April 2006)
VideoIn this interview, Jacques Santer, former President of the European Commission, recalls certain issues which affected the progress, between 1995 and 1999, of the second and third stages of Economic and Monetary Union (EMU).
The Member States and the second stage of EMU
Address given by François Biltgen on Luxembourg’s entry into EMU (Luxembourg, 7 December 1994)
TextOn 7 December 1994, commenting on the progress of preparations in Luxembourg for the second stage of Economic and Monetary Union (EMU), François Biltgen, lawyer and Christian Social MP, delivers an address to the Luxembourg Association of Banking Lawyers (ALJB) in which he outlines the aims of the bill that he submitted to the Luxembourg Chamber of Deputies in order, in particular, to reform the status and the tasks of the Luxembourg Monetary Institute (LMI).
Cartoon by Hanel on the implementation of the Economic and Monetary Union (1995)
Bild‘I don’t think this thing will be flying by the year 2000!’ In 1995, the German cartoonist Hanel presents an ironic picture of the doubts and fears of European citizens regarding the imminent implementation of a genuine Economic and Monetary Union (EMU) within the European Union. German Chancellor Helmut Kohl is flying the plane, with French President Jacques Chirac acting as co-pilot.
Address given by Jean-Claude Juncker on EMU (Brussels, 23 February 1995)
TextOn 23 February 1995, Jean-Claude Juncker, Luxembourg Prime Minister and Finance Minister, delivers an address to members of the National Bank of Belgium (BNB) in which he takes a critical look at the evolution towards Economic and Monetary Union.
Pamphlet published by the British Section of the European Movement on the single European currency (1996)
TextIn 1996, the British Section of the European Movement publishes an information pamphlet which welcomes the effects of Economic and Monetary Union (EMU) on the United Kingdom’s economy and rejects the arguments of those opposed to the single currency.
‘Forcing through the single currency’ from Le Monde Diplomatique (November 1996)
TextIn November 1996, the French monthly newspaper Le Monde Diplomatique comments on the preparations for Economic and Monetary Union (EMU) and harshly criticises the German authorities for seeking to impose their economic and monetary views on their European Union partners.
Address given by Guy Quaden on Belgium and the euro (Brussels, 3 March 1997)
TextOn 3 March 1997, at the inaugural meeting, held in Brussels, of the General Commission for the Euro, Guy Quaden, Director of the National Bank of Belgium (NBB) and General Commissioner for the Euro, delivers an address in which he outlines the most recent progress made towards Economic and Monetary Union (EMU) and describes Belgium’s degree of preparation for the introduction of the euro, while setting out the tasks of the General Commission for the Euro.
‘The match has only been postponed’ from Die Zeit (1997)
TextIn 1997, in an article published in the German weekly newspaper Die Zeit, Helmut Schmidt, former Chancellor of the Federal Republic of Germany (FRG), outlines the economic and political implications of the single European currency, on which he places great importance.
Booklet published by the Luxembourg Delegation of the Group of the Party of European Socialists on the euro (September 1997)
TextIn September 1997, the Luxembourg Delegation of the Group of the Party of European Socialists (PES) publishes a booklet explaining the various stages of Economic and Monetary Union (EMU) and of the establishment of the single currency, the euro.
Address given by Jean-Luc Dehaene on the euro (La Hulpe, 1 October 1998)
TextOn 1 October 1998, Jean-Luc Dehaene, Prime Minister of Belgium, delivers an address at the meeting of the Euro Entreprises international forum in La Hulpe in which he outlines the advantages of the single currency while emphasising the importance, for the countries in the future euro zone, of aligning their economic policies and of the need to ensure that the euro zone is effectively represented on the international monetary scene.
Erling Olsen, The Danes and EMU (1998)
TextIn 1998, Erling Olsen, Speaker of the Danish Parliament (Folketing), sets out his ideas on relations between Denmark and Economic and Monetary Union (EMU).
Max Baehring, Outside? No, preferably inside! (1998)
TextIn 1998, Max Baehring, President of the Danish Metalworkers’ Union, expresses his support for Denmark’s participation in Economic and Monetary Union (EMU).
Kjell-Olof Feldt, EMU — the best choice for Sweden (1998)
TextIn 1998, Kjell-Olof Feldt, Chairman of the Board of Governors of the Sveriges Riksbank, Sweden’s central bank, sets out the arguments in favour of his country’s participation in Economic and Monetary Union (EMU).
The readjustment of the European Monetary System
‘Full accession to the EMS as long as it is viable’ from the Cadernos de Economia (September 1990)
TextIn September 1990, in an article for the Portuguese economics magazine Cadernos de Economia, Miguel Beleza, Portuguese Finance Minister, analyses the conditions required for Portugal’s accession to the European Monetary System (EMS).
‘A step in the integration process’ from the Cadernos de Economia (September 1990)
TextIn September 1990, the Portuguese economics magazine Cadernos de Economia considers Portugal’s accession to the European Monetary System (EMS) as an important step in the European integration process.
European Parliament resolution on the development and prospects of the EMS and EMU (30 October 1992)
TextOn 30 October 1992, in the light of the monetary turbulence affecting some of the Member States of the European Communities, the European Parliament adopts a resolution on the development of and the prospects for the European Monetary System (EMS) and Economic and Monetary Union (EMU).
Jacques Delors and Henning Christophersen just before the ECOFIN Council (Brussels, 23 November 1992)
BildOn 23 November 1992, Jacques Delors, President of the European Commission (on the left), talks to Henning Christophersen, Vice-President of the Commission (on the right), just before the opening, in Brussels, of the ECOFIN Council, during which the Finance Ministers of the Twelve will attempt to find a solution to the European monetary crisis.
Bank of Spain’s analysis of the EMS crisis (January 1993)
TextIn January 1993, the Bank of Spain analyses the performance of the peseta during the crisis affecting the European Monetary System (EMS).
Interview with Jacques de Larosière published in Le Figaro (11 February 1993)
TextOn 11 February 1993, Jacques de Larosière, Governor of the Banque de France, gives an interview to the French daily newspaper Le Figaro in which he comments on France’s monetary policy in the light of the crisis affecting the European Monetary System (EMS).
The readjustment of the European Monetary System
Address given by Jean-Claude Juncker on the European Monetary System (5 March 1993)
TextOn 5 March 1993, Jean-Claude Juncker, Luxembourg Finance Minister, analyses the crisis affecting the European Monetary System (EMS) and emphasises the implications of monetary integration in Europe.
General policy statement by Édouard Balladur (Paris, 8 April 1993)
TextOn 8 April 1993, during his general policy statement to the French National Assembly, the new French Prime Minister, Édouard Balladur, refers, in particular, to the stability and solidity of the French franc as an important element in the European Monetary System (EMS).
Communiqué from the Finance Ministers and Central Bank Governors of the Member States of the European Community on the EMS (2 August 1993)
TextOn 2 August 1993, the Finance Ministers and Central Bank Governors of the Twelve decide to widen temporarily the margin for fluctuations between the currencies in the European Monetary System (EMS).
Press conference on the fluctuation margins of the European Monetary System (Bonn, 2 August 1993)
BildOn 2 August 1993, in Bonn, Helmut Schlesinger, President of the Bundesbank (on the left) and Theodor Waigel, German Finance Minister (on the right), hold a joint press conference during which they comment, in particular, on the decision of the Finance Ministers and Governors of the Central Banks of the Twelve temporarily to widen the fluctuation margin of the currencies in the European Monetary System (EMS).
‘Freedom regained’ from Le Figaro (3 August 1993)
TextOn 3 August 1993, the French daily newspaper Le Figaro comments on the decision taken by the Finance Ministers and Governors of the Central Banks of the Twelve to extend the margins for exchange rate fluctuations of the currencies participating in the European Monetary System (EMS) to 15 % in response to the exchange-rate crisis.
Communiqué from the Commission on the coordination of economic policies (6 August 1993)
TextOn 6 August 1993, the European Commission makes a solemn appeal to the 12 Member States of the European Communities to reinforce their cooperation in the economic and monetary fields in order to progress towards Economic and Monetary Union (EMU).
Interview with François Mitterrand on the crisis in the European Monetary System (Latche, 16 August 1993)
TextOn 16 August 1993, François Mitterrand, President of the French Republic, grants an interview to the regional daily newspaper Sud-Ouest in which he analyses the crisis faced by the European Monetary System (EMS) and emphasises the action taken by France and Germany to support European integration.
European Parliament resolution on the monetary crisis (16 September 1993)
TextOn 16 September 1993, the European Parliament adopts a resolution on the monetary crisis affecting the European Monetary System (EMS) and expresses its concern at the political and economic consequences of the crisis for the 12 Member States of the European Communities.
‘Europe: casting the wrong spell’ from Le Monde (23 October 1993)
TextOn 23 October 1993, in the light of the monetary crises continually affecting the European Monetary System (EMS), the French daily newspaper Le Monde sets out the difficulties involved in the introduction of Economic and Monetary Union (EMU) in Europe.
The Madrid European Council (15 and 16 December 1995)
‘The sound of confidence’ from Die Zeit (8 December 1995)
TextOn 8 December 1995, considering the implications of the Madrid European Council to be held on 15 and 16 December, the German weekly newspaper Die Zeit reviews the various proposals put forward for naming the future single European currency.
"J'espère que à Madrid on se met d'accord sur la monnaie unique" dans El País
TextLe 13 décembre 1995, à la veille du Conseil européen de Madrid, Alexandre Lamfalussy, président de l'Institut monétaire européen, se montre confiant que le sommet donnera une grande impulsion à la réalisation d'une monnaie unique.
‘Labour pains for EMU’ from the Frankfurter Allgemeine Zeitung (14 December 1995)
TextOn 14 December 1995, on the eve of the Madrid European Council, the German daily newspaper Frankfurter Allgemeine Zeitung outlines the efforts made by the German Chancellor, Helmut Kohl, and his Finance Minister, Theo Waigel, with a view to the establishment of Economic and Monetary Union (EMU) in Europe.
'Summit in Spain to lay down the road-map for Europe’s future' from the Luxemburger Wort (15 December 1995)
TextOn 15 December 1996, the daily newspaper Luxemburger Wort outlines the issues surrounding the Madrid European Council, with particular regard to the establishment of an Economic and Monetary Union (EMU).
Conclusions of the Madrid European Council: extract concerning Economic and Monetary Union (15 and 16 December 1995)
TextOn 16 December 1995, the Madrid European Council adopts a road map for the introduction of the single currency and decides that ‘euro’ will be the name of the currency on which Economic and Monetary Union (EMU) will be based, the third stage of which is to begin on 1 January 1999.
Madrid European Council (15 and 16 December 1995)
BildThe name ‘euro’ is adopted for the new European currency by the Fifteen at the Madrid European Council of 15–16 December 1995. From left to right: Hans van den Broek, Member of the European Commission with special responsibility for external relations; Jacques Santer, President of the European Commission; Felipe González, Spanish Prime Minister; and Javier Solana, Spanish Foreign Minister.
Conclusions of the Madrid European Council (15–16 December 1995)
VideoOn 16 December 1995, following the Madrid European Council, Pedro Solbes Mira, Spanish Minister for Economic and Financial Affairs, Yves-Thibault de Silguy, European Commissioner for Economic and Financial Affairs, Monetary Matters, Credit and Investments and the Statistical Office, and Jacques Santer, President of the European Commission, announce in successive addresses the adoption by the Fifteen of the name ‘euro’ for the new European currency.
‘European challenge’ from the Frankfurter Allgemeine Zeitung (15 December 1995)
TextOn 15 December 1995, commenting on the opening of the Madrid European Council, the German daily newspaper Frankfurter Allgemeine Zeitung outlines the issues to be addressed at the meeting of the Heads of State or Government of the Fifteen.
Press conference held by Jacques Chirac (Madrid, 16 December 1995)
TextOn 16 December 1995, the French President, Jacques Chirac, holds a press conference at which he summarises the results achieved at the end of the Madrid European Council.
Interview with Jean-Claude Juncker published in the Luxemburger Wort (15 December 1995)
TextOn 15 December 1995, Jean-Claude Juncker, Luxembourg Prime Minister and Finance Minister, grants an interview to the daily newspaper Luxemburger Wort in which he outlines the issues to be addressed at the Madrid European Council.
‘Major flies into trouble at EU talks’ from The Guardian (15 December 1995)
TextOn 15 December 1995, commenting on the Madrid European Council, the British daily newspaper The Guardian outlines the position adopted by the British Prime Minister, John Major, on the introduction of a single currency in Europe.
‘The single currency: D-Day in Madrid' from La Libre Belgique (15 December 1995)
TextOn 15 December 1995, the daily newspaper La Libre Belgique comments on the issues to be addressed at the meeting of the Heads of State or Government of the Fifteen at the Madrid European Council to be held on 15 and 16 December.
'The real Europe debate' from The Guardian (16 December 1995)
TextOn 16 December 1995, the British daily newspaper The Guardian comments on the implications of the Madrid European Council held on 15 and 16 December and welcomes the decision taken by the Heads of State or Government of the Fifteen to adopt the name ‘euro’ for the future single European currency.
'We won't keep you company in the cold' from The Guardian (16 December 1995)
TextOn 16 December 1995, in the British daily newspaper The Guardian, Dick Spring, Irish Foreign Minister, comments on the decisions taken by the Fifteen at the Madrid European Council and considers the negative repercussions for his country of a refusal by the United Kingdom to participate in Economic and Monetary Union (EMU).
The Madrid European Council (15 and 16 December 1995)
‘Eurocurrency’ from El País (17 December 1995)
TextOn 17 December 1995, the Spanish daily newspaper El País outlines the decisions taken by the Heads of State or Government of the Fifteen at the Madrid European Council held on 15 and 16 December.
‘Madrid, the “euro” summit’ from La Libre Belgique (18 December 1995)
TextOn 18 December 1995, the Belgian daily newspaper La Libre Belgique describes the negotiations between the Heads of State or Government at the Madrid European Council which led to the decision to name the single European currency the ‘euro’.
‘The post-Madrid dilemma' from Le Monde (19 December 1995)
TextOn 19 December 1995, commenting on the outcome of the Madrid European Council, the French daily newspaper Le Monde analyses the difficulties associated with the establishment of Economic and Monetary Union (EMU).
The Dublin European Council (13 and 14 December 1996)
Conclusions of the Dublin European Council: report on the preparations for the third stage of EMU (13–14 December 1996)
TextOn 13 and 14 December 1996, the Dublin European Council adopts the report of the Ecofin Council, drawn up in close cooperation with the European Commission and the European Monetary Institute (EMI), on the technical and legal preparations required for the transition to the third stage of Economic and Monetary Union (EMU) on 1 January 1999.
‘The European "stability pact" issue overshadows talks in Dublin' from Le Monde (13 December 1996)
TextOn 13 December 1996, the French daily newspaper Le Monde leads with the difficult negotiations between the Finance Ministers of the European Union on the Stability Pact.
‘Europe as a driving force for the political emancipation of Ireland’ from the Frankfurter Allgemeine Zeitung (14 December 1996)
TextOn 14 December 1996, commenting on the Dublin European Council, the German daily newspaper Frankfurter Allgemeine Zeitung analyses the reasons for the pro-European stance in Ireland.
Déclaration de José Maria Aznar sur les résultats du Conseil européen de Dublin (18 décembre 1996)
TextLe 18 décembre 1996, lors d'une session parlementaire à la Chambre des députés espagnols, le Premier ministre José Maria Aznar détaille les résultats des travaux du Conseil européen de Dublin relatifs à la mise en place d'une Union monétaire et économique.
Press conference held by José María Aznar: the outcome of the Dublin European Council (Dublin, 14 December 1996)
VideoOn 14 December 1996, at the end of the Dublin European Council, José María Aznar, Spanish Prime Minister, holds a press conference in which he expresses his satisfaction at the progress made by the Fifteen in matters such as the fight against terrorism and Economic and Monetary Union (EMU).
Press conference held by Helmut Kohl: the outcome of the Dublin European Council (Dublin, 14 December 1996)
VideoOn 14 December 1996, at the end of the Dublin European Council, Helmut Kohl, Chancellor of the Federal Republic of Germany (FRG), holds a press conference in which he expresses his satisfaction at the results achieved by the Fifteen.
The Amsterdam European Council (16 and 17 June 1997)
Conclusions of the Amsterdam European Council: extract concerning EMU and employment (16–17 June 1997)
TextOn 16 and 17 June 1997, at the Amsterdam European Council, the Fifteen adopt a series of measures relating to, in particular, Economic and Monetary Union (EMU), employment, competition and growth in Europe.
The Luxembourg European Council (12 and 13 December 1997)
Conclusions of the Luxembourg European Council: extract concerning Economic and Monetary Union (12–13 December 1997)
TextOn 12 and 13 December 1997, the Luxembourg European Council decides that the Ministers of the countries participating in the euro zone may meet informally among themselves but emphasises that, whenever matters of common interest are concerned, these are to be discussed by the Ministers of all the Member States.
Luxembourg European Council (Luxembourg, 12 and 13 December 1997)
BildAt the Luxembourg European Council of 12 and 13 December 1997, the Fifteen reach agreement on arrangements for participation in and the operation of the Euro Council, particularly vis-à-vis the Council of Economic and Finance Ministers (Ecofin).
‘The Euro Council is launched regardless of Tony Blair' from Libération (13 December 1997)
TextOn 13 December 1997, the French daily newspaper Libération comments on the attitude of the British Prime Minister, Tony Blair, and on the compromise reached between the United Kingdom and its European partners at the Luxembourg European Council, held on 12 and 13 December, on the participation in and functioning of the Euro Council, particularly in comparison with the Council of Economic Affairs and Finance Ministers (Ecofin).
‘Coffee break or politics?’ from the Süddeutsche Zeitung (13 December 1997)
TextOn 13 December 1997, the Bavarian daily newspaper Süddeutsche Zeitung comments on the fundamental differences of opinion between Germany and France with regard to the monetary policy to be pursued in the Euro Council established by the Fifteen at the Luxembourg European Council held on 12 and 13 December.
Interview with Philippe Maystadt from Le Soir (15 December 1997)
TextOn 15 December 1997, in the Belgian daily newspaper Le Soir, commenting on the outcome of the Luxembourg European Council held on 12 and 13 December, Philippe Maystadt, Belgian Deputy Prime Minister and Minister for Finance and Foreign Trade, describes the difficulties and the implications of the Euro Council, particularly in comparison with the Council of Economy and Finance Ministers (Ecofin).
‘The contradictions of Tony Blair’ from Le Figaro (15 December 1997)
TextOn 15 December 1997, the French daily newspaper Le Figaro outlines the contradictions in the attitude of Tony Blair, British Prime Minister, and the United Kingdom, with particular regard to the adoption of the euro and the operation of the informal Euro Council.