This view is also held by the European Monetary Institute.

The report by the European Monetary Institute provided us with a very important basis for our work.

My own group has studied with great interest the work of the European Monetary Institute.

I want to see the development of a European central bank emerging from the European monetary institute, in stage two, beyond 1996.

That applies for both the European Monetary Institute and the Commission.

I would like the Commission and the European Monetary Institute to take note of this point.

He is currently President of the European Monetary Institute.

The agreement calls for the establishment of the European Monetary Institute on Jan. 1, 1994.

I do not intend to outline the report by the European Monetary Institute, but simply to comment on three rather important points which it raises.

There are still far too many question marks over the final outcome of this process, in which the European Monetary Institute plays a fundamental role.

So, to conclude, I will deal briefly with the report from the European Monetary Institute on legal convergence.

The European Monetary Institute's report implies that the eleven chosen economies are truly convergent.

Those experts hit upon a formula that was perfectly valid when they sought to settle matters with the European Monetary Institute.

Mr President, in April 1996 the European Monetary Institute published its annual report for 1995.

He has established the European Monetary Institute as required by the Maastricht Treaty.

It is neither sensible nor proper that the European Monetary Institute should condemn certain national laws as incompatible with a central bank system.

Hypocrites and pharisees are needed: the European Monetary Institute sees a high degree of convergence between the states.

Moreover, the Commission proposals tabled today have been approved by the European Monetary Institute.

Indeed, the euro's arrival modifies the existence of the European Monetary Institute whose annual report we are examining today.

Under the terms of the Maastricht Treaty, a European Monetary Institute is to be established in 1994.

The baron would be president of the council of the European Monetary Institute, composed of the community's central bankers.

Although the convergence report of 5 November from the European Monetary Institute uses stronger language, there are still no basic differences with it.

The European Monetary Institute oversees the technical preparation of the Euro banknotes.

I would like to ask the President of the European Monetary Institute to respond to the points that I am going to make.

That was the reason why Alexandre Lamfalussy left the European Monetary Institute early.