European Parliament 14 February 1997, WRITTEN QUESTION No. 554/97 by Doeke EISMA to the Commission. ECOS/Ouverture programmes

C 319/112 EN Official Journal of the European Communities 18 . 10 . 97 In EMU, Member States will no longer be able to use their exchange rate as an instrument to deal with country-specific economic shocks. However, a fundamental issue is whether the non-availability of the exchange rate instrument in EMU actually is such a big loss.