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An extranational payment unit with constant purchasing power: the Eurostable

In: The Mechanics of Money

Author

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  • Jacques Riboud

Abstract

The modern world lacks any kind of reliable international currency. There is no currency capable of correctly carrying out the role of international numéraire — that of medium of exchange and reserve and intervention instrument for central banks. Alone among systems of measurement, modern monetary systems are devoid of a genuine standard of value against which the value of goods and services can be compared in space and time.

Suggested Citation

  • Jacques Riboud, 1980. "An extranational payment unit with constant purchasing power: the Eurostable," Palgrave Macmillan Books, in: The Mechanics of Money, chapter 4, pages 249-262, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-05112-0_21
    DOI: 10.1007/978-1-349-05112-0_21
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