'The Euro Balancing Act.' In 2000, the cartoonist Fritz Behrendt depicts the Fifteen and the European Central Bank (ECB) as being compelled to perform a dangerous balancing act in order to ensure the success of the transition to the third stage of Economic and Monetary Union (EMU) and the introduction of the single currency, which took place on 1 January 1999.

On 22 February 1997, the British cartoonist, Michael Cummings, illustrates the difficulties experienced by several Member States of the European Union, including the Federal Republic of Germany (FRG), in complying with the timetable set for the establishment of Economic and Monetary Union (EMU).