What is delors' package?

The Delors Package refers to a series of economic and monetary reforms proposed by Jacques Delors, then President of the European Commission, in the late 1980s. It aimed to create a single European market by 1992 and laid the groundwork for the Economic and Monetary Union (EMU) and the introduction of a single currency, the euro. The package consisted of three stages: the completion of the internal market, the coordination of economic policies among member states, and the establishment of a central monetary authority. Its implementation significantly advanced European integration and economic cooperation.