The euro notes and coins re practiced the national currencies on 1 January 2002, while all(prenominal) province started to withdraw national currency notes and coins from circulation. The national currencies of the take part countries were completely replaced by the euro at the end of February 2002. On 1 January 2007, Slovenia joined the EMU. Participation countries irrevocably fixed the exchange place of their currencies. They also adopted a common monetary policy, which is conducted by the European Central commit (ECB). The primary objective of the ECB was narrow down by the Maastricht treaty of 1992 as main(prenominal)tenance of price stability. In shape to realize such an objective, the governance Council of the ECB announced the main elements of its stability-oriented monetary policy strategy in October 1998. The ECB has conducted the monetary policy in the EMU since the start of the EMU in 1999. Despite the particular that there is no common monetary policy in the EU, national pecuniary policies are coordinated at a fiscal framework in the EMU. This framework has been gradually developed. The Treaty of Maastricht set the point of hybridizing criteria, which also contain fiscal rules, for joining the EMU. The SGP, which was established by the... If you want to get a full essay, order it on our website: Ordercustompaper.com
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