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Tracks towards a Common Monetary Policy in Europe

In: Monetary Theory and Monetary Policy

Author

Listed:
  • Norbert Kloten

Abstract

The origin of this chapter dates back to the time when the Delors Committee had just started to deliberate on the essential features of a European economic and monetary union (EMU) and the best way of achieving it. The spectrum of opinions discussed at the time comprised a wide variety of views. In the sections presented below is advocated a conceptually-based approach concerning both the organisational pattern and the statute of a European Central Bank System (ECBS); it is argued that only compatible steps towards EMU should be accepted. The alternative in the form of a parallel currency approach is rejected (see also Schlesinger, 1993).

Suggested Citation

  • Norbert Kloten, 1993. "Tracks towards a Common Monetary Policy in Europe," Palgrave Macmillan Books, in: Stephen F. Frowen (ed.), Monetary Theory and Monetary Policy, chapter 1, pages 1-17, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-23096-9_1
    DOI: 10.1007/978-1-349-23096-9_1
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