| Abstract | Europska Ekonomska i monetarna unija (EMU) osnovana je s ciljem stvaranja temelja za
održivi dugoročni ekonomski rast osiguravajući makroekonomsku stabilnost, uz istovremeno
sudjelovanje pojedinaca na jedinstvenom europskom tržištu. Uključuje koordinaciju
gospodarskih i fiskalnih politika, a za zemlje koje ispunjavaju određene kriterije i jedinstvenu
monetarnu politiku i zajedničku valutu - euro.Ekonomska i monetarna unija je projekt
EUkojem je cilj usklađivanje ekonomskih i monetarnih politika država članica da bi se
stvorilo jedinstveno monetarno područje i kako bi euro posta zajednička valuta za sve države
članice. Stvaranje EMU-a predviđeno je Sporazumom o Europskoj uniji (1992; Maastrichtski
sporazum), a svoje začetke ima u razvoju Europskoga monetarnog sustava od 1979. te
uvođenju zajedničke valutne obračunske jedinice (→ ECU). Stvaranje EMU-a predviđeno je
u tri faze. Prva, od 1990. do 1994., sastojala se od potpune liberalizacije kretanja kapitala i
povećanja suradnje između nacionalnih središnjih banaka (uz uporabu ECU-a bez ikakve
zapreke). Druga faza, od 1994. do 1998., sastojala se u daljnjem približavanju monetarnih
politika pojedinih država, što se nastojalo postići osnivanjem Europskoga monetarnog
instituta (od 1999. Europska središnja banka) te koordiniranjem monetarnih politika još uvijek
neovisnih središnjih banaka zemalja članica. Treća faza stvaranja EMU-a, od početka 1999.,
ima za cilj završiti prijelaz u monetarnu uniju uvođenjem eura kao zajedničke valute, te
nadnacionalnoga Europskog sustava središnjih banaka, na čelu s Europskom središnjom
bankom. U trećoj se fazi valute zemalja članica neopozivo fiksiraju za euro (na temelju
intervalutarnih odnosa u Europskom tečajnom mehanizmu, na dan 31. XII. 1998). Središnje
banke zemalja članica odriču se mogućnosti kreiranja dodatne količine rezervnog novca, osim
na temelju stvorene količine eura, i odobravaju depozitni novac u eurima na temelju
dopuštenja, ali ne i prisile komitenata. Početkom 2015. godine u 19 država članica Europske
unije (od ukupno 28) euro je službena valuta (čine eurozonu). |
| Abstract (english) | The European Economic and Monetary Union (EMU) was established with the aim of
creating a foundation for sustainable long-term economic growth by ensuring macroeconomic
stability, while involving individuals in the European single market. It includes the
coordination of economic and fiscal policies, and for countries that meet certain criteria and a
single monetary policy and a common currency - the euro. Economic and Monetary Union
(English Economic and Monetary Union, the acronym EMU ) project of the European Union
based on the harmonization of economic and monetary policies of the Member States to
create a single monetary area and the introduction of the euro as a common currency. The
creation of EMU is foreseen by the Treaty on European Union (1992; Maastricht Treaty), and
has its beginnings in the development of the European Monetary System (since 1979) and the
introduction of a common currency unit of account (→ ECU).). The creation of EMU is
envisaged in three phases. The first, from 1990 to 1994, consisted of the complete
liberalization of capital movements and the increase of cooperation between the national
central banks (with the use of the ECU without any impediment). The second phase, from
1994 to 1998, consisted of further approximation of the monetary policies of individual
countries, which was sought by the establishment of the European Monetary Institute (since
1999 the European Central Bank).) and by coordinating the monetary policies of the still
independent central banks of the Member States. The third phase of the creation of EMU,
from the beginning of 1999, aims to complete the transition to monetary union by introducing
the euro as a common currency, and the supranational European System of Central Banks,
headed by the European Central Bank. In the third phase, the currencies of the member states
are irrevocably pegged to the euro (based on inter-exchange relations in the European
Exchange Rate Mechanism, as at 31 December 1998). The central banks of the member states
renounce the possibility of creating an additional amount of reserve money, except on the
basis of the created amount of euros, and approve deposit money in euros on the basis of
permission, but not coercion of customers. At the beginning of 2015, in 19 EU member states
(out of a total of 28), the euro was the official currency (they make up the so-called eurozone). |
