Title: 
Headings: 

Content: This will  create a single market and remove transaction costs 
brought about by currency conversions and the uncertainties of exchange rate stability. This creation of a single market and the system of central banks will reinforce international 
stability. The Single European Currency -the EURO 
The Economic and Monetary Union (EMU) will take effect in 
January 1, 1999, and the Euro currency will be introduced in the 
following participating countries: Austria, Belgium, Finland, Germany, 
Ireland, Italy, Luxembourg, Portugal, Spain, and the Netherlands. The Economic Monetary Union was created with the signing of the 
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The Review: A Journal of Undergraduate Student Research, Vol. 2 [1999], Art. 14
https://fisherpub.sjfc.edu/ur/vol2/iss1/14
Maastricht Treaty on February 7, 1992. This treaty defined the convergence criteria that 
the countries would have to meet in order to become part of the Economic Monetary 
Union. It 
was necessary for the countries to meet certain criteria in order to insure 
economic stability in the union.