Stage Three of EMU

E158742

Stage Three of EMU is the final phase of the European Union’s economic and monetary integration, marked by the adoption of the euro and the implementation of a single monetary policy under the European Central Bank.

All labels observed (2)

Label Occurrences
Stage 3 of EMU 1
Stage Three of EMU canonical 1

How this entity was disambiguated

Statements (46)

Predicate Object
instanceOf phase of European integration
stage of Economic and Monetary Union
appliesTo euro area member states
characterizedBy Stability and Growth Pact fiscal rules for euro area members
convergence criteria for joining the euro area
coordination of economic policies among euro area states
currency euro
event introduction of euro banknotes and coins in 2002
launch of the euro as book money in 1999
transfer of monetary policy to the European Central Bank in 1999
follows Stage Two of EMU
goal deep economic integration in the European Union
elimination of exchange rate risk within the euro area
enhanced price transparency in the single market
macroeconomic stability in the euro area
hasKeyFeature abolition of national monetary policy for euro area members
adoption of the euro
centralization of monetary policy at EU level
introduction of euro banknotes and coins
irrevocably fixed exchange rates among participating currencies
price stability as primary monetary objective
single monetary policy
use of a single interest rate policy for the euro area
implementedBy European Central Bank
Eurosystem
legalBasis Maastricht Treaty provisions on EMU
Treaty on European Union
Treaty on the Functioning of the European Union
monetaryAuthority European Central Bank
monetaryPolicyFramework single monetary policy for the euro area
partOf European Union economic and monetary union
surface form: Economic and Monetary Union of the European Union

European Union economic and monetary integration
policyInstrument ECB main refinancing operations interest rate
open market operations conducted by the ECB
standing facilities and minimum reserve requirements in the euro area banking system
policyObjective maintaining inflation at a low and stable level
precededBy Stage Two of EMU
relatedInstitution European System of Central Banks
Eurosystem
replaces national currencies of participating member states
requires compliance with convergence criteria
independence of national central banks before entry
scope countries that have adopted the euro as legal tender
startDate 1999-01-01
status final stage of EMU
supervisedBy Eurogroup for political coordination of euro area matters

How these facts were elicited

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

EMU hasStage Stage Three of EMU
subject surface form: Economic and Monetary Union of the European Union
this entity surface form: Stage 3 of EMU