ECFIN, DG - Directorate-General Economic and Financial Affairs, … - 1997
monetary union. It is organised in two parts. Part I examines the economic environment in EMU, analysing the role of markets … and the macro-economic framework. It finds that the prospect of EMU has already succeeded in creating a stable macro … results. Part II investigates the issue of adjustment in EMU in response to macro-economic disturbances, exploring the …