European Monetary Institute (EMI)

A temporary EU body established on 1 January 1994 to strengthen central bank cooperation and monetary policy coordination in Stage Two of Economic and Monetary Union (EMU) and to carry out the preparations required for the establishment of the European System of Central Banks (ESCB), for the conduct of the single monetary policy and for the introduction of a single currency in Stage Three. It was replaced by the ECB on 1 June 1998. (European Central Bank)

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