Twenty-five years ago this week, the European Commission released its "Report on Economic and Monetary Union in the European Community." This dry-sounding document—better known as the Delors report, after then European Commission President Jacques Delors—laid out the path that led to the euro. Monetary union, the report predicted, would bring "price stability, balanced growth, converging standards of living, high employment and external equilibrium" to the Continent.
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