Que peut-on attendre du système monétaire européen ?

Gérard Vila

Revue Économique, 1979, vol. 30, issue 5, 845-865

Abstract: [eng] What can one expect from the european monetary system?. . This article attempts a rough assessment of the follawing issue : « What can one expect from the European Monetary System (E.M.S.) ? More specifically, do the means of intervention for thé European Stabilization Fund seem adequate ? The tentative conclusion is that while the E.M.S. may provide a useful framework to ce defend » a set of parities against « unwarranted » speculative attacks originating from within thé E.E.C., it could do Utile in the case of a renewed flight from the dollar into a single E.E.C. currency (selected as a « refuge », i.e. most likely the Deuschemark). [fre] l'intérieur de la Communauté, il se révélerait impuissant en présence d'une fuite devant le dollar vers une devise européenne particulière sélectionnée comme « refuge » (c'est-à-dire le Deutschemark).

Date: 1979
Note: DOI:10.3406/reco.1979.408489
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