European Monetary Institute
|European Monetary Institute|
President of the European Monetary Institute|
European Monetary Institute was set up to prepare for the establishment of the European Central Bank.
The leadership of the group, (and of its successor, the European Central Bank) bears out Bilderberg Chairman Étienne Davignon's boast that the Bilderberg group "helped create the euro in the 1990s."
The EMI was set up on 1 January 1994 under the presidency of Bilderberger Alexandre Lamfalussy to oversee the second stage in the creation of monetary union. On 1 July 1997 Lamfalussy was replaced by fellow Bilderberger (and a member of the Bilderberg Steering Committee) Wim Duisenberg, who would then go on to serve as the ECB's President when the EMI was dissolved on 1 June 1998 and replaced by the European Central Bank and the European System of Central Banks as the euro was launched.
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