Today, a variety of financial systems exists in Europe. In view of EMU the question then arises what kind of "institutional convergence" may be required to enable the future European System of Central Banks (ESCB) to function efficiently. With respect to payment systems and settlement assets the paper points out that even if a variety of payment instruments may continue to exist the functional convergence will be assured by EMU.
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Paper provided by American Institute for Contemporary German Studies- in its series Papers with number
23.
Length: 37 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:amiger:23
Contact details of provider: Postal: U.S.A.; Johns Hopkins University, American Institute for Contemporary German Studies. 1400 16th Street, N.W. Suite 420 Washington, D.C. 20036-2217
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Find related papers by JEL classification: F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies F15 - International Economics - - Trade - - - Economic Integration