Monetary Unification — at a Price
In an ideal world there would be only one currency which would be accepted in payment everywhere. Although the idea of such a Utopian system was put forward from time to time, it is outside the realm of practical politics. On the other hand, there has lately been a growing volume of speculation about the possibility of unifying the monetary systems of the EEC countries into one single Western European monetary system. The Werner Report argued that the realisation of that idea would have to be preceded by considerable progress towards the economic integration of the Common Market. There is sharp difference of opinion within the EEC on this question.
KeywordsCentral Bank Federal Reserve Support Point Monetary Authority Common Market
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