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From Here to EMU: The Role of the Ecu after Maastricht

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  • Thierry Louis VISSOL

    (EC Commission)

Abstract

The Maasstricht Treaty on EMU has generally been hailed as "a victory for the Ecu". This is a misinterpretation. Maastricht is a victory for the EMU. EMU does not require the actual Ecu, and the actual Ecu did not receive a boost from the decision to call the future single currency "Ecu" rather than "Euromark". Maasstricht has not nailed down the actual Ecu's future and has left some uncertainties. Finally, it is not certain that the future Ecu will be at least as "hard" as the Deutschemark. The Maastricht Treaty went as far as practically possible in anchoring the Ecu's stability. But performance will depend on factors outside of the Treaty's scope.

Suggested Citation

  • Thierry Louis VISSOL, 1993. "From Here to EMU: The Role of the Ecu after Maastricht," Discussion Papers (REL - Recherches Economiques de Louvain) 1993019, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:1993019
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