English, Article edition: The Enlargement of Monetary Union and the Outlook for the Eurosystem Jean-Pierre Patat

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Physical Description
  • article
Language
  • English

Edition details

Title
  • The Enlargement of Monetary Union and the Outlook for the Eurosystem
Author
  • Jean-Pierre Patat
Physical Description
  • article
Notes
  • The Eurosystem is made up of the European Central Bank and the national central banks of countries in the euro area. It presently functions in a decentralised manner, which is borne out both in the decision-making process, the way in which monetary policy is set and in banking supervision. As the euro area enlarges to include the new members of the European Union, the functioning of the Eurosystem could move towards greater centralisation and converge, at least in appearance, with that of the US Federal Reserve. Such changes in the working of the Eurosystem could however influence the balance between the major financial markets in the euro area.
  • central bank; euro area; monetary policy; economic policy; EMS
  • RePEc:cii:cepill:2004-235
Language
  • English
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