The Delors report of 1989 set out a plan to introduce the EMU in three stages and it included the creation of institutions such as the European System of Central Banks (ESCB), which would become responsible for formulating and implementing monetary policy.
Dens arbejde mundede ud i Delors-rapporten fra 1989 som opstillede en plan for at introducere ØMU'en i tre faser, samtidig som den indeholdt dannelsen af institutioner såsom det Europæiske System af Centralbanker, der ville blive ansvarlige for at formulere og implementere ØMU'ens pengepolitik.