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The economic governance of the European Union
About this film
Outline Europe’s Economic and Monetary Union the euro crisis forced the reform of the EMU European semester and rules-based governance the statelessness of the EMU Prerequisites EU101: Introduction to the European integration process. 1 EU110: The European Union as a federal system. 2 Transcript The Economic and Monetary Union or else EMU is a stage in the integration process that is more advanced than that of the single market. It expands into all areas of policy that concern economic governance, namely, budgetary and fiscal policy, monetary affairs, and financial regulation. A fully realised EMU must be considered the evolutionary phase prior to political unification. Europe’s Economic and Monetary Union was established together with the European Union in the 1990s. It was to have an official currency: the euro. Monetary policy would be conferred to a new institution: the European Central Bank. There would be a European System of Central Banks meant to coordinate monetary affairs between euro and non-euro members. As for the euro area, it would be governed monetarily by the Eurosystem, which is a federated formation of the ECB and the National Central Banks, with the former stand…
Directors & creators
Protesilaos Stavrou
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