Document Type


Date of Award

Fall 1-31-1995

Degree Name

Master of Science in Management - (M.S.)


School of Industrial Management

First Advisor

John Malindretos

Second Advisor

Iftekhar Hasan

Third Advisor

Theologos Homer Bonitsis


The plans for Economic and Monetary Union in Europe became difficult to achieve during the period 1992-1993. The convergence criteria set up in the Maastricht Treaty block the road towards unification. It is very complex to expect twelve governments with different shades of political colour and twelve states with different economic interests to compromise in such criteria (as inflation, government borrowing, exchange rate stability and interest rates) and eventually, speak with one voice at the end of this decade.

This current research provides significant modifications in The Maastricht Treaty , policy making, objectives, even changes in political behavior for better coordination to tackle any turbulence that stands on the way. These changes were unveiled and supported by outside views. The right time for transition to the monetary union depends on the rate of progress in Europe in meeting the stability requirements and in the willingness to move to a more developed political union. Monetary Union could occur late in 1990s but with a number of members left out with major dominant the Germany than the EMS.

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