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Europarl: The Single Currency and the European Parliament

The Single Currency and the European Parliament, hosted by the European Parliament, provides background information, a timetable, and a description of the conditions each nation must meet to join the unified currency. It also features Parliamentary opinions and resolutions on the single currency as well as eight Briefing Reports.

After months of doubt and political difficulties in France, Germany, and most recently, Italy, it now appears that the unified European currency, the Euro, will indeed begin on January 1, 1999 to replace the national currencies of as many as 10 or 11 countries. The path to a unified currency is by no means smooth, however. Many European Union member states are finding it politically difficult to reduce their budget deficit to 3 percent of gross domestic product and other states, such as Britain and Denmark, are choosing to remain out for now regardless. On the other hand, European economic growth will apparently exceed earlier expectations, allowing leaders to use increased tax revenues instead of cutting social services to qualify.

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Classification
Publisher
Date Issued 1997
Language
Scout Publication
Date of Scout Publication 1997-10-21
Archived Scout Publication URL https://scout.wisc.edu/Reports/SocSci/.cs/1997

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