Euroopa Liidu majanduspoliitiliseks tähtsündmuseks oli 1. jaanuarist 1999 alanud Euroopa Majandus- ja Rahaliidu (EMU) kolmas etapp, mille alguses seoti 11 liikmesriigi valuutad muutumatult üksteisega. Euroopa Majandus- ja Rahandusministrite Nõukogu (ECOFIN) poolt heaks kiidetud konverteerimiskursid fikseeriti vastavuses Euroopa Liidu lepingu 109. artikli 4. lõikega.
Kui imporditud kauba tolliväärtuse määramiseks kasutatavad hinnaelemendid ei ole väljendatud Eesti kroonides, kasutatakse konverteerimisel Eesti Panga ümberarvestuskurssi vastavalt rahandusministri poolt kehtestatud korrale.
At the starting date of the third stage, the Council shall, acting with the unanimity of the Member States without a derogation, on a proposal from the Commission and after consulting the ECB, adopt the conversion rates at which their currencies shall be irrevocably fixed and at which irrevocably fixed rate the ECU shall be substituted for these currencies, and the ECU will become a currency in its own right.
Before 1 October 1993, the Council shall, on the basis of a Commission progress report on discussions regarding the consequences to be drawn from the monetary conversion rate used for the application of common agricultural policy measures, review the problem of trade in goods between the Member States in the context of the internal market.
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