search query: @journal_id 133 / total: 233
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| Author: | Currie, D. |
| Title: | EMU and Labour: Facing up to the Euro |
| Journal: | Economic Outlook
1997 : NOV, Vol. 22:1, p. 6-11 |
| Index terms: | EUROCURRENCY MARKETS EUROPEAN MONETARY SYSTEM LABOUR UNITED KINGDOM |
| Language: | eng |
| Abstract: | Surprising though it may seem to some UK commentators, EMU is going to happen on time with a wide participation. This will be a remarkable historical venture: the formation of a major currency area between a group of advanced industrial countries that have traditionally guarded their independence jealously and within living memory by force of arms. This venture is not without risk, and if it goes wrong the economic, social and political costs to Europe and the rest of the world could be very high indeed. The challenge for the members of the European Union is to make the Euro work well. This will require some hard policy choices for all countries involved, not least in securing sufficient flexibility of European labour and product markets to ensure that major structural imbalances do not arise within the EMU zone. |
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