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TheEuropean Monetary Institute (EMI) was the forerunner of theEuropean Central Bank (ECB), operating between 1994 and 1998.

The EMI was created 1 January 1994 to oversee the second stage in the creation of monetary union. The EMI itself replaced the earlierEuropean Monetary Cooperation Fund (EMCF).^[1] The EMI met for the first time on 12 January under its first President,Alexandre Lamfalussy.^[2] On 1 July 1997 Lamfalussy was replaced byWim Duisenberg who later became theECB's President. The institute was dissolved on 1 June 1998 with the creation of the ECB and theEuropean System of Central Banks (ESCB) which took over its expanded responsibilities in preparation for theeuro's introduction.

The EMI was the key monetary institution of the second phase of theEconomic and Monetary Union of the European Union. The EMU encouraged cooperation between the national banks of themember states of theEuropean Union (EU) and laid the foundation for the euro.^[3] It had less than 250 staff, mostly seconded from national central banks, and was based in theEurotower,Frankfurt (Germany), where the ECB is now based.^[4]

• Delors Committee
• History of the euro

• 1994 establishments in the European Union
• European Central Bank
• European System of Central Banks

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• Use dmy dates from February 2022