Original scientific paper

THE EURO-SYSTEM ERA HAS BEGUN

Vlatko Mileta ; Faculty of Political Science, University of Zagreb, Zagreb, Croatia

Abstract

The article looks into the process of “building” the monetary union of the EU member-countries and the creation of the European currency, EURO. Following the lengthy negotiations, the Euro-system era commenced on 1 January 1999, when the Euro was launched, marking the beginning of the third phase of the monetary union. At first, EURO will be virtual money and function as a dual currency, and only in 2002 will it get its physical form for everyday usage. In the first half of that year, local currencies will be replaced by the Euro in eleven EU countries that have satisfied the stringent criteria of “suitability” for joining the monetary union.

Keywords

Hrčak ID:

32064

URI

https://hrcak.srce.hr/32064

Publication date:

3.3.1999.

Article data in other languages: croatian

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