Abstract
As with Iglesías (June/July 1999), Bainbridge and Teasdale touch on one particular 1990s’ development which is indicative of the general European trend: The provisions governing [Economic and Monetary Union (EMU)] were added to the Treaty of Rome by the Maastricht Treaty. They set up a number of new institutions and specify the stages by which EMU is to be achieved, by 1999 at the latest […]. A reference to EMU was added to Article 2 EEC by the Maastricht Treaty, and Article 32 EEC refers to ‘the irrevocable fixing of exchange rates leading to the introduction of a single currency […]’ […]. As well as a single currency the [final] stage [of EMU] entails the creation of a European System of Central Banks (ESCB), composed of the [European Central Bank (ECB)] and representatives of the [Member States’] central banks […]. Most important […]. EMU raises issues of sovereignty. EMU entails the transfer of powers hitherto exercised exclusively by [nation-state] governments to an independent ECB, including the right to authorize issues of currency. (Bainbridge and Teasdale, 1996, pp. 123–5) KeywordsEuropean UnionGross Domestic ProductEuropean Central BankCapita Gross Domestic ProductMaastricht TreatyThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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