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EMU: Unresolved Issues Relating to Stage 3

In: European Monetary Union: The Kingsdown Enquiry

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  • Paul Richards

Abstract

This paper considers, from a market perspective, the issues relating to Stage 3 of EMU that remain to be resolved, on the assumptions that: 1. Stage 3 is likely to begin on the last date specified in the Maastricht Treaty (that is, 1 January 1999); 2. The key decisions will be taken about one year before Stage 3 begins. 3. After Stage 3 begins, a further period of about three years will be needed to complete the conversion of national currencies into the ECU as the single currency.1

Suggested Citation

  • Paul Richards, 1996. "EMU: Unresolved Issues Relating to Stage 3," Palgrave Macmillan Books, in: Christopher Taylor (ed.), European Monetary Union: The Kingsdown Enquiry, chapter 47, pages 332-350, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24825-4_47
    DOI: 10.1007/978-1-349-24825-4_47
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