Political Science 3334E Study Guide - Quiz Guide: Monetary Policy, European System Of Central Banks, Eurogroup
7 Nov 2020
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Article 119 tfeu: recap, the european monetary union, context and the three stages of the emu, institutions: the ecb and the escb, coordination of policies and reform, the im and fundamental rights, art. 119 states that the existence of eu is to have economic cooperation and stability: euro is there as an instrument to im in eu. 3 stages of emu: stage 1: complete im and make sure that barriers are removed, stage 2: prepare ecb and escb, stage 3: fix exchange rates and launch euro. Ms that don"t have the euro: eurosystem: composed of ecb + national central bank of ms (euro currency, mandate for all 3: price stability. Emu coordination: monetary policy at hands on eurosystem, economic policy at hands of ms, coordination is achieved through a bunch of instruments, stability and growth pact 1997 (main instrument): legal rules on fiscal discipline.
