Luxembourg

Research guide to European Monetary Union

A special report prepared by Dresdner Bank Luxembourg SA

The heads of state and government confirmed this at the EU-Summit held in Dublin in December. Here, they adopted the legal framework for the euro, accepting the proposal put forward by the European Monetary Institute for the organization of currency relationships between the euro countries and those who will not be participating at the outset. Furthermore, they reached an agreement on the plans for a “stability and growth pact”, which demonstrates their desire for sustained budgetary discipline in Emu.