Conclusions

Abstract

What started the present study was the observation that an apparent consensus existed in 1989–90 among monetary authorities and social partners about the desirability of Economic and Monetary Union in a smaller Member State. This led to the core research question for this study: what were the perceptions of EMU of these actors in three ‘major’ Member States in the period 1991–2 (that is, during the intergovernmental conferences and their immediate aftermath). More specifically, how did actors perceive the potential of EMU to serve or frustrate their policy objectives or interests? In seeking an answer, several questions were posed and examined: which arguments were decisive with regard to the actors accepting or opposing EMU? Which objectives were they aiming for by accepting EMU? And which problems did they think would be solved by EMU?