EMU, MAASTRICHT, AND THE 1996 INTERGOVERNMENTAL CONFERENCE

This paper presents various economic approaches to achieving monetary union, particularly in the context of European Economic and Monetary Union (EMU) as envisaged in the 1991 Maastricht Treaty. It evaluates the implications of Maastricht, given the economic convergence criteria embodied in the Treaty, in terms of economic policy for individual Member States and for the European Union (EU) as a whole. The paper assesses the EU's options for amending the Maastricht Treaty at its scheduled inter-governmental conference (IGC).