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Sterling and the Euro

BMDF Summary on Sterling Sterling: the most stable of all the major currencies Sterling's alleged "volatility" is often invoked as a reason for the UK to replace sterling by a currency which is assumed - wrongly - to be less volatile, the Euro.

Economic and Monetary Union

• BMDF Summary on EMU A summary of Economic and Monetary Union in the BMDF book on the Treaty of Amsterdam.
  
  
  

• Papers on Europe and the Single Currency

These are a number of speeches and papers by British and German politicians and members of the German Bundesbank, distributed by the BMDF. These include synopses prepared by the BMDF for its member companies; the speeches in German have been translated by the BMDF.

Tony Blair ‘The Union Budget’, Joint letter by the Prime Minister Tony Blair MP, the President of France, the Chancellor of Germany, the Chancellor of Austria, the Prime Minister of the Netherlands and the Prime Minister of Sweden to the President of the European Commission together with the reply on the size of the European budget,15 December 2003.

Tony Blair ‘The Union Institutions’, joint statement by the Prime Minister Tony Blair MP and Jose Maria Aznar, President of the Government of Spain, Madrid, 28 February 2003.

Tony Blair ‘A Renewed Impetus for Economic Reform in Europe’, joint statement by the Prime Minister Tony Blair MP and Jose Maria Aznar, President of the Government of Spain, Madrid, 28 February 2003.

Tony Blair ‘A Clear Course for Europe’, speech by the Prime Minister Tony Blair MP, Cardiff, 28 November 2002.

Tony Blair ‘Reform of the European Council’, joint statement by the Prime Minister Tony Blair MP and Gerhard Schröder to Jose Maria Aznar, President of the Government of Spain, London and Berlin, 25 February 2002.

Tony Blair ‘Making the case for Britian in Europe’, speech by the Prime Minister Tony Blair MP, London Business School, 27 July 1999.

Tony Blair ‘Britain and the Euro’, statement by the Prime Minister Tony Blair MP, House of Commons, 23 February 1999.

Gordon Brown ‘The five tests for joining the Euro’, statement by Gordon Brown MP, Chancellor of the Exchequer, House of Commons, 27 October 1997.

Gordon Brown ‘Britain and Europe’, speech by Gordon Brown MP, Chancellor of the Exchequer at the CBI Conference, 1 November 1999.

Gordon Brown ‘Britain and the Euro’, speech by Gordon Brown MP, Chancellor of the Exchequer, Mansion House 10 June 1999.

Churchill Sir Winston Churchill's speech at Zurich on 19 September 1946.

Issing 'The Euro - four weeks after the start', speech by Professor Otmar Issing, a member of the Executive Board of the European Central Bank, to the European-Atlantic Group at the House of Commons on 28 January 1999.

Lafontaine 'Getting the most out of the Euro', article in Le Monde by Oskar Lafontaine, the German Minister for Finance, and Dominique Strauss-Kahn, the French Minister for Finance, Economy and Industry, Wednesday, 15 January 1999.

Levene 'The City and the Euro', speeches by Rt Hon The Lord Levene of Portsoken KBE, the Lord Mayor of London and David Clementi, Deputy Governor of the Bank of England, February 1999.

Portillo 'Democratic values and the Single Currency', speech by Rt Hon Michael Portillo, London, 14 January 1999.

Schieber 'The international role of the Euro', speech by Helmut Schieber, Directorate of the Deutche Bundesbank, Frankfurt, 21 September 1998.

Schröder 'New foundations for European integration', speech by Gerhard Schröder, Chancellor of the Federal Republic of Germany, The Hague, 19 January 1999.

Smith 'The nation and the nation state', speech by Senator Gordon Smith, Chairman of the US Senate’s European Affairs Committee, London 10 December 1999.

Stark 'The effects of the Euro on economic development', speech by Dr Jürgen Stark, Vice President German Bundesbank, Stuttgart 9 October 1998.

Stark 'From the Deutchmark to the Euro', speech by Dr Jürgen Stark, Vice President German Bundesbank, Essen 28 February 2000.

Stark ‘The ECB and the Future of the Euro’, speech by Dr Jürgen Stark, Deputy Governor of the Deutsche Bundesbank, 3rd Euro Capital Markets Forum, Amsterdam 2 April 2001.

Stark ‘International economic prospects', speech by Dr Jürgen Stark, Deputy Governor of the Deutsche Bundesbank, Munich, 29 October 2001.

Tietmeyer 'The Euro: an ongoing challenge and task', speech by Prof Dr Hans Tietmeyer, President of the German Bundesbank, Frankfurt 20 May 1999.

von Stahl 'The nation and the nation state', speech by Alexander von Stahl, former Advocate General of the Federal Republic of Germany, Berlin 3 October 1996.

Welteke ‘The Euro changes Europe and the world’, speech by Ernst Welteke, President of the Deutsche Bundesbank, to the Japanese Bankers' Association 28 November 2001.

• Extracts from the Treaty establishing a Constitution for Europe

  The following extract from the Treaty establishing a Constitution for Europe, Articles III-177 to III-212, contains the main provisions concerning Economic and Monetary Policy, including the provisions governing the actions of the Member States that have adopted the Euro.
  

  Economic and Monetary Policy EMU; extracts from the Constitutional Treaty.

  
  
  

• Extracts from the Treaty establishing the European Community

  The following extracts from the Treaty establishing the European Community are the main provisions concerning Economic and Monetary Policy, including the introduction of the Single Currency and the main criteria for convergence of the monetary policies of the Member States. These provisions remain in force until such time as the European Constitution is ratified and comes into effect, expected to be 1 November 2006.
  

  • Economic Policy EMU; Title VII, Chapter 1 from the Treaty establishing the European Community

  • Monetary Policy EMU; Title VII, Chapter 2 from the Treaty establishing the European Community

  • Institutional Provisions EMU; Title VII, Chapter 3 from the Treaty establishing the European Community

  • Transitional Provisions EMU; Title VII, Chapter 4 from the Treaty establishing the European Community