European Monetary Institute
The European Monetary Institute (EMI) was an institution of the European Union . It was founded in 1994 at the beginning of the second stage of the European Economic and Monetary Union .
It replaced the committee of the central bank governors and was the predecessor institution of the European Central Bank (ECB) founded in 1998 . The tasks of the institute were to strengthen the cooperation of the national central banks, to coordinate their monetary policy more closely and to carry out the preparatory work for the establishment of the European System of Central Banks (ESCB), for the implementation of a single monetary policy and for the creation of the single currency.