Stage 1 of EMU
E625504
Stage 1 of EMU was the initial phase of European economic and monetary integration, focused on closer economic policy coordination and the removal of barriers to free movement of capital among EU member states.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf | phase of European Economic and Monetary Union ⓘ |
| aimedAt |
laying groundwork for adoption of a single currency in later stages
ⓘ
reducing macroeconomic imbalances among member states ⓘ |
| alsoKnownAs |
First stage of Economic and Monetary Union
NERFINISHED
ⓘ
Stage One of EMU ⓘ |
| appliesToJurisdiction |
European Community
NERFINISHED
ⓘ
European Union member states ⓘ |
| coordinatedBy |
Council of Ministers of the European Community
NERFINISHED
ⓘ
European Commission NERFINISHED ⓘ |
| definedIn | Delors Committee report of 1989 NERFINISHED ⓘ |
| focusesOn |
convergence of inflation and public finances
ⓘ
economic policy coordination ⓘ improved budgetary discipline ⓘ liberalisation of capital movements ⓘ |
| followedBy | Stage 2 of EMU ⓘ |
| follows |
Delors Report on Economic and Monetary Union
NERFINISHED
ⓘ
European Council decision at Madrid 1989 on EMU roadmap NERFINISHED ⓘ |
| hasFeature |
increased coordination of exchange‑rate policies
ⓘ
preparation of institutional framework for later monetary union ⓘ progressive abolition of remaining capital controls within the Community ⓘ regular reporting on economic convergence by the European Commission ⓘ strengthened multilateral surveillance procedures ⓘ |
| hasMainGoal |
closer economic policy coordination among EU member states
ⓘ
increased convergence of member states’ economic performance ⓘ preparation for later stages of monetary integration ⓘ removal of barriers to free movement of capital among EU member states ⓘ strengthening of multilateral surveillance of economic policies ⓘ |
| hasOutcome |
enhanced coordination of national economic policies
ⓘ
full liberalisation of capital movements within the European Community ⓘ preparation for Stage 2 of EMU and creation of the European Monetary Institute ⓘ |
| historicalPeriod | early 1990s ⓘ |
| implementedBy | EU member state governments ⓘ |
| legalBasis |
Single European Act provisions on internal market
NERFINISHED
ⓘ
Treaty establishing the European Community (pre‑Maastricht) economic provisions NERFINISHED ⓘ |
| monitoredBy |
Ecofin Council
NERFINISHED
ⓘ
Monetary Committee of the European Community NERFINISHED ⓘ |
| partOf | Economic and Monetary Union of the European Union NERFINISHED ⓘ |
| partOfSequence | three‑stage plan for Economic and Monetary Union ⓘ |
| policyArea |
European economic integration
NERFINISHED
ⓘ
European monetary integration ⓘ |
| precededBy | European Monetary System NERFINISHED ⓘ |
| relatedTo |
Maastricht Treaty convergence process
ⓘ
Single Market Programme NERFINISHED ⓘ free movement of capital in the European Union ⓘ |
| startTime | 1990-07-01 ⓘ |
| timePeriod | 1990s European integration ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.