European Monetary Institute

The European Monetary Institute was the forerunner of the European Central Bank (ECB). It was created on January 1 1994 at the beginning of stage two of EU Economic and Monetary and Union (EMU) and dissolved on June 1 1998. Its main roles were to co-ordinate monetary policy and central bank operations in the period leading up to the launch of the ECB and the euro in 1998 and 1999 respectively.