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Tracks towards a Common Monetary Policy in Europe

  • Norbert Kloten
Chapter

Abstract

The origin of this chapter dates back to the time when the Delors Committee had just started to deliberate on the essential features of a European economic and monetary union (EMU) and the best way of achieving it. The spectrum of opinions discussed at the time comprised a wide variety of views. In the sections presented below is advocated a conceptually-based approach concerning both the organisational pattern and the statute of a European Central Bank System (ECBS); it is argued that only compatible steps towards EMU should be accepted. The alternative in the form of a parallel currency approach is rejected (see also Schlesinger, 1993).

Keywords

Monetary Policy Central Bank European Central Bank Monetary Union National Currency 
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© Stephen F. Frowen 1993

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  • Norbert Kloten

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