The Annual Report of the European Monetary Institute (EMI) for 1997 is the last report to be published by the EMI. The confirmation on 2/3 May 1998 by the Heads of State or Government of the Member States which will adopt the single currency heralded the start of the final phase of the transition to Stage Three, which includes the establishment of the ESCB and the ECB and the liquidation of the EMI.
In accordance with Article 11 of the EMI Statute, the Report covers both economic, monetary and financial conditions in the Community up to the end of 1997 and the activities of the EMI; it also presents the Institute’s annual accounts.
