The Euro will be one of the strongest currencies in the world, resting on a number of strong economies making up the world's largest single market. A strong currency is an essential condition for promoting growth and employment. The European Parliament has consistently supported the idea of the European Monetary Union as a further step towards deeper integration.
Monetary Union requires the coordination of national fiscal and economic policies. Parliament has emphasised the need for better coordination of national policies, particularly with regard to the creation of new jobs. The European Parliament will have to ensure that Monetary Union leads to concrete benefits for its citizens. As the only democratically elected Institution, the European Parliament has to assume political control of the decisions taken by the independent Central Bank and the European Council.
This brochure presents the concept of Monetary Union from the perspective of the European Parliament. It offers general information on the new currency as well as an overview of Parliament's role within the Economic and Monetary Union.
The transition to the Single Currency requires the support of the European citizen. It is he or she who is going to use it. Any currency can only be as strong as the confidence it enjoys. The Euro merits our trust. Trust is based on understanding. With this brochure the European Parliament wishes to contribute to popular understanding and acceptance of the new currency.
José María GIL-ROBLES
President of the European Parliament
European parliament, Revised 27 April 1998