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The Impact of the Euro on the International Monetary System


The European Council met in London on the first of May 1998 to announce the final decisions regarding the countries that are eligible to proceed to European Monetary Union (EMU). The next day, the selected countries met in Brussels to make the decisions required to implement the decisions. The six executive directors of the European Central Bank (ECB) were appointed, including the president and vice president, and the designated countries will lock exchange rates by 1 July at the latest, and the ECU will become the euro on 1 January 1999. […]

Originally published in the issue Vol. 33, No. 2, April-June 1998, p. 5-20

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