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European Monetary Institute - Definition |
| Related Words: Academy, Alliance, Association, Author, Bear, Begin, Breed, Broach, Cause, Christen, Create, Decree, Do, Edict, Effect |
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The European Monetary Institute (EMI) was the forerunner of the European Central Bank (ECB). It encouraged cooperation between the national banks of the member states of the EU.
Created 1st January 1994, it was the key monetary institution of the second phase of the Economic and Monetary Union, and was dissolved with the creation of the ECB and the European System of Central Banks.
The EMI first president was Alexandre Lamfalussy.
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