Abstract
The workshop was concluded by a panel discussion with the title “The Best Way to EMU”. The objective was to place the issues that had come up in the presented papers in a broader policy perspective. The panel consisted of professor Thygesen from the University of Copenhagen, professor De Grauwe from the Catholic University of Leuven, professor Bakker from the Dutch central bank (DNB), and Mr. Hogeweg from the European Monetary Institute (EMI).
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Notes
Speech by Kenneth Clarke to the European Movement on 9 February 1995.
See e.g. Hans Tietmeyer, Europäische Währungsunion und Politische Union — das Modell mehrerer Geschwindigkeiten, Europa Archiv, Folge 16, 1994, p. 457–460. In this article Tietmeyer states: “A common monetary policy and at the same time unco-ordinated national economic and financial policies is hardly compatible in the longer run. Hence, monetary union requires far-reaching and lasting political union in the sense of a viable economic and political framework with clear decision-making powers.” (translation by editors)
Report on economic and monetary union in the European Community (the “Delors Report”), Office for Official Publications of the European Communities, Luxembourg, par 44.
The ECOFIN Council in Versailles in April 1995 agreed that one year will be required from the decision to start the final stage until the ECB can become operational. To meet the latest starting date in the Treaty of 1 January 1999 a decision would be required before the end of 1997.
See, in particular, the paper issued by the CDU/CSU party in September 1994 (“Schäuble-Lamers paper”).
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© 1996 Kluwer Academic Publishers
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Alders, K., Koedijk, K., Kool, C., Winder, C. (1996). The Best Way to EMU: Summary of the Panel Discussion. In: Alders, J.A.J.K., Koedijk, K.G.K., Kool, C.J.M.C., Winder, C.C.M.C. (eds) Monetary Policy in a Converging Europe. Financial and Monetary Policy Studies, vol 31. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-1249-9_7
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DOI: https://doi.org/10.1007/978-1-4613-1249-9_7
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