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The IMS and the Euro

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  • Kirrane, Chris

Abstract

The euro, which replaced eleven national currencies on 1 January 1999, became the single currency of the European Union. It is therefore an international currency, which is not without important consequences for the international monetary system. Can the euro fulfill the functions of such a currency: the answer is affirmative. Will it actually fulfill these functions and become a competitor of the dollar? The answer is more uncertain: yes, but without knowing to what extent or at what rate. One of the reasons for this uncertainty is the offer of the euro as an international currency, that is to say the terms of its creation, which will be linked to the international transactions of the Union. Finally, the international monetary system is still that of Bretton Woods, in which the IMF plays an important role: how will the Euro be represented, how will the Fund integrate the euro into its operations, such as the SDR, and how will it monitor exchange rate policies?

Suggested Citation

  • Kirrane, Chris, 2003. "The IMS and the Euro," MPRA Paper 88751, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:88751
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    References listed on IDEAS

    as
    1. Kirrane, Chris, 1995. "The Bretton Woods Experience and ERM," MPRA Paper 89000, University Library of Munich, Germany.
    2. Kirrane, Chris, 1994. "Implications of EMU for the European Community," MPRA Paper 88998, University Library of Munich, Germany.
    3. Robert N. McCauley, 1997. "The euro and the dollar," BIS Working Papers 50, Bank for International Settlements.
    4. Françoise Le Quéré, 1999. "Les sources de l'internationalisation de l'euro," Revue d'Économie Financière, Programme National Persée, vol. 52(2), pages 31-54.
    5. Françoise Le Quere, 1999. "Les sources d'une internationalisation de l'euro," Post-Print halshs-00257552, HAL.
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    Citations

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    Cited by:

    1. Kirrane, Chris, 2017. "An Appraisal of IMF Policies to the AFC," MPRA Paper 93640, University Library of Munich, Germany.
    2. Rossi, Giovanni, 2004. "Euro Weakness in the Late Nineties," MPRA Paper 90272, University Library of Munich, Germany.
    3. Yannis, Athena & Foscoulou, Kostos, 2004. "Exclusions from EMU," MPRA Paper 90307, University Library of Munich, Germany.
    4. Rossi, Giovanni, 2005. "The New IMS Architecture and the Spirit of the Bretton Woods," MPRA Paper 89877, University Library of Munich, Germany.
    5. Kirrane, Chris, 2003. "The Choice of Exchange Rate Regimes for EU Accession Countries," MPRA Paper 88877, University Library of Munich, Germany.
    6. Mertens, Johan, 2005. "The Euro and European Identity," MPRA Paper 90619, University Library of Munich, Germany.
    7. Yannis, Athena, 2004. "External constraints and EMU," MPRA Paper 90308, University Library of Munich, Germany.
    8. Kirrane, Chris, 2018. "What Caused the Asian Currency?," MPRA Paper 93643, University Library of Munich, Germany.
    9. Didier, Marcel, 2004. "The French Franc and European Monetary Crisis," MPRA Paper 90504, University Library of Munich, Germany.
    10. Kirrane, Christopher, 2017. "Looking Back to the Asian Crisis," MPRA Paper 89104, University Library of Munich, Germany.
    11. De Vries, Jakob, 2005. "The Future Role of the Euro," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, issue 5 (Winter, pages 203-207.
    12. Leandros, Panayota, 2005. "The Euro as an International Currency," MPRA Paper 91393, University Library of Munich, Germany.
    13. Kirrane, Christopher, 2018. "The Causes of Asian Currency Crises," MPRA Paper 89103, University Library of Munich, Germany.

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    More about this item

    Keywords

    Euro;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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