Will European monetary union happen?  
 
 
  

Who decides whether it starts and who joins? Which criteria are used? 
 
 
  

Will any country actually manage the criteria?  
 
  

So who will join?  
 
  

How will these conversion rates be decided? 
 
 
  

Once the members have been chosen, what happens in 1999?  
 
 
  

Will there be any euro notes and coins around?  
 
  

So how can you have a "single" currency then?  
  

But what if I want to change D-Mark notes into French francs at a different rate?  
 
 

Any risk of speculative attacks after the conversion rates are decided? 
  

What are the potential benefits of EMU? 
 
 
  

What are the potential costs of EMU? 
  

If there is one currency, will there be one monetary policy?  
 
  

Where does the ECB come from?  
How will the ECB operate?  
 
 
  

Will there be a parallel to the ECB at governmental level? A club of finance ministers, say?  
 
  

How will the ECB make interest rate decisions?  
 
  

Aren't they going to be arguments?  
 
 
  

How will the ECB judge whether a rate rise is needed?  
 
  

Will the ECB be as tough as the Bundesbank in its fight against inflation?  
 
  

Will the ECB want a strong or weak euro?  

Which other factors will affect the currency - debt levels, say?  
  

Is there any bail-out risk? 
 
  

How will the fiscal stability pact work? 
  

Do the fiscal criteria make sense? 
  

But what if one country goes off the rails completely? Will it be bailed out?  

What will happen to the old national central banks in Emu countries? Will they disappear?  
  

But what will the central banks have left to do?  
  

How will these money market operations be conducted?  
  

Will there be a single centralised money market?  
 
  

What about other parts of the financial markets? Will they be in euros, too?   
 
  

Will the conversion to euros affect the way that Europe's financial centres operate? 
 
  

Which financial centres will win or lose from this?  
 
  

Will anybody be using euros outside the markets before 2002?  

How will EMU affect the business and corporate world in Europe? 
 
  

Could companies actually stop using national currencies after 1999 then?  
 
  

Can companies be forced to use euros?  
 
  

But what if one business partner wants to use euros - and the other does not?  
 
  

But won't coping with two currency units be complicated for companies?  
 
  

Why are notes and coins not being introduced until 2002 then?  
 
  

How will the new cash be introduced?  
 
  

How much will all this cost?  
 
 
  

Who gains from the switch?  

What happens countries who do not join?  
 
  

If countries join at different stages, won't that complicate matters?  
 
  

Will the ECB have links with non-Emu members?  
  

Will all non-Emu members be part of the ERM-2?  
  

How will the ERM-2 work?