Further Considerations on the New Approach to European Monetary Unification

Giovanni Magnifico

Chapter 3 in European Monetary Unification, 1973, pp 85-136 from Palgrave Macmillan

Abstract: Abstract Regional problems have dominated Europe’s development. History, culture, geography, scientific advance and technological change, which have been and are the sources of Europe’s material and non-material riches, have also contrived to create regional differences. These persist even today, when unprecedented high levels of income, the relative decline of transport costs, the weakening of locational preferences consequent upon technical progress in the field of energy as elsewhere, the multiplication of links and contacts infinitely varied in their forms, all make for an increase in the ‘footlessness’ of people, capital and enterprise. In fact, these differences may grow under the impact of increased mobility, and be aggravated if the institutional framework and the policies, in whose context mobility operates, are not adapted to the needs of balanced growth in the wider European area.

Keywords: Exchange Rate; Central Bank; Member Country; Trade Balance; Monetary Union (search for similar items in EconPapers)
Date: 1973
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-01812-3_3

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DOI: 10.1007/978-1-349-01812-3_3

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