A Long Term Perspective on the Euro
AbstractThis essay will evaluate the experience of the first decade of EMU and the euro in historical perspective. It will ground the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions. A discussion of the origins, key operating characteristics and problems encountered by earlier monetary arrangements will serve as a backdrop for an evaluation of the euro's performance and challenges in future decades. The essay will develop and expand upon the following three themes: 1. Lessons from the evolution of past monetary unions for EMU; 2. Fiscal policy arrangements for EMU in historical perspective; 3. Challenges facing EMU. The first two take an historical perspective. The third looks to the future.
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Bibliographic InfoPaper provided by Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 307.
Length: 32 pages
Date of creation: Feb 2008
Date of revision:
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Economic and Monetary Union; euro; economic history; international monetary system; history of monetary unions; EMU; Bordo; James;
Other versions of this item:
- F15 - International Economics - - Trade - - - Economic Integration
- N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
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