Autore
Kalb, Stephan L.

Titolo
Market-led approaches to European Monetary Union in the light of a legal restrictions theory of money
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1990 - Fascicolo: 26 - Pagina iniziale: 3 - Pagina finale: 41

Market-led approaches to European Monetary Union have been developed and proposed as a way to obtain monetary union without the problems involved in political-institutional approaches. The Parallel Currency Approach and the Evolutionary Approach are therefore supposed to obtain monetary union automatically and gradually without any substantial political harmonization. In this paper, however, it is argued that considerable political commitment is in fact also necessary for these approaches: that is, they can only be successful if they are backed by a corresponding legal framework which involves waiving sovereignty rights.



Testo completo: http://hdl.handle.net/1814/365

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