Table of Contents Economic and Monetary Union (EMU) and the Euro Mr Charlie McCreevy TD Minister for Finance Autumn 1999 Introduction Summary Background Three Elements in EMU Three Stages of EMU EMU criteria and the EU Leaders' Decision on which Member States qualify for EMU Convergence Report from the Central Bank of Ireland The Houses of the Oireachtas and the Move to EMU Three Elements of EMU The Single Currency Converting Irish pounds to Euro EU Legal Framework for the Use of the Euro The Relationship between the Euro and the Currencies of Member States outside the Euro Area Exchange Rate Relations between the Euro and Non-EU Currencies European Central Bank Objective of the ECB Independence of the ECB Decision-making Bodies Participation of President of Council of Ministers and Member of European Commission Accountability of the ECB Closer Co-ordination of Member States' Economic and Budgetary Policies Elements in the Coordination Process The Stability and Growth Pact Structural Reform The Luxembourg Process The Cardiff Process The Broad Economic Policy Guidelines Euro-11 Group Ireland's Policy on EMU Benefits of EMU Challenges of EMU Implications for Ireland of EMU ESRI Report: "The Economic Implications for Ireland of EMU" Position of the UK Sterling Forfás Document - 'What about Sterling? Action for Companies' Policy Responses to a Possible Economic Shock in EMU Ireland's Legislative and Practical Preparations for the Changeover to the Euro Timetable for the Changeover to the Euro Legislative Preparations at National Level Practical Preparations for the Changeover to the Euro EMU and the Euro: Ireland's National Changeover Plan
