IDEAS home Printed from https://ideas.repec.org/p/uwo/uwowop/7803.html
   My bibliography  Save this paper

Difficulties with European Monetary Union

Author

Listed:
  • David Laidler

Abstract

It is now two years since the authors of the All Saints’ Day Manifesto (Basevi et al., 1975) advanced their proposals for European Monetary Union. The Manifesto itself, and subsequent writings by at least one of its authors (Parkin, 1976) make it clear that they envisage themselves as planning, not for some distant time in the future, but for the present. Their scheme is one that they would have implemented immediately in 1975, and presumably one that they would implement now had they the power to do so.1 Given the renewal of interest within the EEC Commission in the goal of monetary union, it is of particular importance that the goal itself, and the methods that have been proposed to achieve it, be subject to critical scrutiny and debate. This paper seeks to contribute to such a debate. The Maifesto’s authors have claimed that there is no case to be made against immediately moving towards European Monetary Union (EMU). It is my contention that there are serious problems involved in such a move, particularly an immediate one. To proceed towards EMU without a thorough analysis of these problems is to risk its failure. Whether one opposes or supports EMU, one can agree that a botched attempt at achieving it is something to be avoided. The arguments that follow stop far short of being a blanket condemnation of all aspects of the case put by the proponents of EMU. Rather they are advanced in the hope of tempering political enthusiasm for EMU by a little economic realism.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • David Laidler, 1978. "Difficulties with European Monetary Union," University of Western Ontario, Departmental Research Report Series 7803, University of Western Ontario, Department of Economics.
    • Handle: RePEc:uwo:uwowop:7803
    as

    Download full text from publisher

    File URL: https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1547&context=economicsresrpt
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. George Zis, 1984. "The European Monetary System 1979–84: An Assessment," Journal of Common Market Studies, Wiley Blackwell, vol. 23(1), pages 45-72, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwo:uwowop:7803. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://economics.uwo.ca/research/research_papers/department_working_papers.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.