MAASTRICHT: A BRIDGE TOO FAR

Howard M. Wachtel
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Howard M. Wachtel: American University

International Finance from EconWPA

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.

Keywords: Maastricht Treaty; uniform monetary policy; Euro-Federalism (search for similar items in EconPapers)
JEL-codes: F (search for similar items in EconPapers)
Date: 1996-10-10
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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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpif:9610001

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