Le système de l'écu privé: comment a-t-il fonctionné ? comment aurait-il pu évoluer ?

Michel Lelart

Revue d'économie financière, 2014, vol. N° 113, issue 1, 275-290

Abstract: Now that it is no longer a taboo to consider the exit of a country from the euro area, it may be appropriate to revisit the different stages that led to the introduction of the single currency. Before the commitment made to that effect in the late 1980s, a common currency had begun to be used, albeit modestly, by the countries participating in the European Monetary System, as well as by a few other countries. This private ecu, as it was called, could have become the common currency for the Community to be used for transactions between two countries, without replacing the national currencies. This set-up would have been along the lines described by Keynes at the international level at the end of WW2. This paper reviews the operational aspects of the private ecu system and compares this Community currency with the concept of the ?parallel currency?, which was often invoked. Classification JEL: E42, F31, F33.

JEL-codes: E42 F31 F33 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOFI_113_0275 (application/pdf)
http://www.cairn.info/revue-d-economie-financiere-2014-1-page-275.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:refaef:ecofi_113_0275

Access Statistics for this article

More articles in Revue d'économie financière from Association d'économie financière
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().