European Economy. Quarterly report on the euro area 2008.

Abstract

At the beginning of May 1998, European Union leaders took the historic decision to move to the Third Stage of Economic and Monetary Union and introduce the euro on 1 January 1999. Ten years later, EMU is one of the greatest achievements of EU integration with 320 million European citizens from Helsinki to Dublin and from Lisbon to Nicosia sharing the same currency and enjoying its numerous benefits. To mark this occasion, the European Commission presented a Communication and accompanying report, 'EMU@10: Successes and challenges after 10 years of Economic and Monetary Union', that reviews the experience of the first decade of EMU and looks at its future. Exceptionally, this Quarterly Report on the Euro Area is entirely devoted to EMU@10.