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On this date, in principle, all restrictions on the movement of capital between Member States were abolished.
The Committee of Governors of the central banks of the Member States of the European Economic Community, which had played an increasingly important role in monetary cooperation since its creation in May 1964, was given additional responsibilities. These were laid down in a Council Decision dated 12 March 1990. Their new tasks included holding consultations on, and promoting the coordination of, the monetary policies of the Member States, with the aim of achieving price stability.
In view of the relatively short time available and the complexity of the tasks involved, the preparatory work for Stage Three of Economic and Monetary Union (EMU) was also initiated by the Committee of Governors...
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Common topics in this essay:
- European Monetary System’S Strengths And Weaknesses
- European Monetary Union
- European Union
- european union
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