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Maastricht: A Bridge Too Far

Author

Listed:
  • Howard M. Wachtel

    (American University)

Abstract

European monetary union and a single currency are at the heart of the 1991 Maastricht Treaty that transformed the European Community into a European Union. Were the financial plans too ambitious? What are the costs and benefits of a single currency and a uniform monetary policy? This article looks at the arguments for and against the Maastricht agreements and concludes that its reach exceeded both the realities of European economies and the political consensus within Europe for such a scheme of Euro-Federalism.

Suggested Citation

  • Howard M. Wachtel, 1996. "Maastricht: A Bridge Too Far," International Finance 9610001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpif:9610001
    Note: Type of Document - WordPerfect; prepared on IBM PC ; to print on HP; pages: 18; figures: none. We never published this piece and now we would like to reduce our mailing and xerox cost by posting it.
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    Citations

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    Cited by:

    1. Lars Jonung & Eoin Drea, 2010. "It Can't Happen, It's a Bad Idea, It Won't Last: U.S. Economists on the EMU and the Euro, 1989–2002," Econ Journal Watch, Econ Journal Watch, vol. 7(1), pages 1-4–52, January.

    More about this item

    Keywords

    Maastricht Treaty; uniform monetary policy; Euro-Federalism;
    All these keywords.

    JEL classification:

    • F - International Economics

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