Heading for the EMU^**For the most recent Update to Mr. Meys' contribution, which was finished at the beginning of December, 1991, please look at the column "Maastricht: European integration moving ahead" in this issue, p. 162.

We are all aware that a single European market is a necessity. This single market couldn't be achieved without Monetary Union. The Maastricht Summit was a real breakthrough in this direction. The banks have now to ask themselves what their position within a single market with monetary union and a single currency will be. Are we really aware of all the consequences following such a union? Which banks will arise as global players at the turn of the Century, at the magic date 2000?