Abstract
Two main objections are raised against the euro. The first is expressed in a popular statement: ‘One monetary policy can’t fit all’, which implies that countries, especially larger ones, should have their own currencies, and — as a result — floating rates of exchange. The second objection is contained in another popular saying: ‘Monetary union requires fiscal (political) union’. I will discuss these two objections and present my own view as to what are the main weaknesses of the euro architecture in its present form and what should be done to improve it.
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© 2014 Leszek Balcerowicz
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Balcerowicz, L. (2014). Euro: The Main Problems and Solutions. In: Hölscher, J. (eds) Poland and the Eurozone. Studies in Economic Transition. Palgrave Macmillan, London. https://doi.org/10.1057/9781137426413_1
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DOI: https://doi.org/10.1057/9781137426413_1
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