haku: @author Vinals, J. / yhteensä: 5
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| Tekijä: | Vinals, J. |
| Otsikko: | European monetary integration: A narrow or a wide EMU ? |
| Lehti: | European Economic Review
1996 : APR, VOL. 40:3-5, p. 1103-1109 |
| Asiasana: | CURRENCY EUROPE EUROPEAN MONETARY SYSTEM |
| Kieli: | eng |
| Tiivistelmä: | The view that only a European Monetary Union (or EMU) composed of a small group of 'core' countries is desirable on economic grounds is challenged in the paper. It is also argued that both the recent experience of the Exchange Rate Mechanism (or ERM) and new research suggest that a relatively wide EMU does not seem appropriate on purely Optimum Currency Area grounds but also appears necessary to preserve the integrity of the Single Internal Market. This makes it all the more important to develop the appropriate transitional arrangements to enable a sufficiently wide EMU to be established. |
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