Atlantic Economic Journal

, Volume 30, Issue 3, pp 225–235 | Cite as

The euro and the monetary union

  • Jean-Claude Trichet
Articles

Abstract

The Eurosystem established a single monetary policy and has the three guiding principles of independence, transparency, and decentralization. These three principles helped to successfully formulate and implement the euro on 1 January 2002. Major criticisms against establishment of the euro failed to come true and, in fact, the euro has quickly become a major currency in the world. Challenges facing continued success of the euro include structural reforms, financial stability, and the accession of new members to the EU and EMU.

Keywords

Monetary Policy International Economic Public Finance Major Criticism Financial Stability 

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Copyright information

© International Atlantic Economic Society 2002

Authors and Affiliations

  • Jean-Claude Trichet
    • 1
  1. 1.Banque de FranceFrance

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