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Experience under the EMS and Prospects for Further Progress towards EMU

In: European Monetary Union

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  • Michael Emerson

Abstract

In the period since President Jenkins (1978) stimulated serious debate again on European monetary integration, the European Monetary System (EMS) has settled into the landscape more comfortably than one might have expected from the debate surrounding the negotiation period. Already in April 1979, only a month after the EMS began its operating, Christopher McMahon (1979), now deputy Governor of the Bank of England observed: ‘If the EMS did not exist, it — or something similar — would have to be invented.’

Suggested Citation

  • Michael Emerson, 1982. "Experience under the EMS and Prospects for Further Progress towards EMU," Palgrave Macmillan Books, in: M. T. Sumner & G. Zis (ed.), European Monetary Union, chapter 2, pages 18-32, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-16781-4_2
    DOI: 10.1007/978-1-349-16781-4_2
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    Cited by:

    1. Alberto Giovannini, 1990. "European Monetary Reform: Progress and Prospects," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 21(2), pages 217-292.
    2. Andrew Scott, 1986. "Britain and the E.M.S.: An Appraisal of the Report of the Treasury and Civil Service Committee," Journal of Common Market Studies, Wiley Blackwell, vol. 24(3), pages 187-201, March.

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