TL;DR
This paper discusses the opportunities and challenges of the Economic and Monetary Union (EMU) in fostering international monetary cooperation within the EU, highlighting institutional issues and member relationships.
Contribution
It analyzes the impact of the Maastricht Treaty on monetary cooperation and identifies key institutional and political challenges faced by EMU.
Findings
EMU may strengthen monetary policy coordination
There are significant institutional and political challenges
Relationship issues between member states remain problematic
Abstract
This paper describes the opportunities and also the difficulties of EMU with regard to international monetary cooperation. Even though the institutional and intellectual assistance to the coordination of monetary policy in the EU will probably be strengthened with the EMU, among the shortcomings of the Maastricht Treaty concerns the relationship between the founder members and those countries who wish to remain outside monetary union.
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Taxonomy
TopicsEuropean Monetary and Fiscal Policies · EU Law and Policy Analysis · Global Financial Crisis and Policies