Miniblocs and Fringe Currencies of the EMU

Patrick Honohan

Journal of Economic Integration, 2000, vol. 15, 47-75

Abstract:

Like all major currencies, the Euro will attract a fringe of hangers-on. For EMU participants, the most important will be those with which participants already have significant trading and other economic relationships. These relation - ships are not homogeneous across the EMU, but instead we can identify seven or more miniblocs, most of either are, or will be, split by the EMU. Stabilizing real exchange rate movements within these miniblocs could be of value in reducing the impact on EMU participants of asymmetric shocks. Possible institutional arrange - ments to give effect to such a goal are considered.

Keywords: European Monetary Union; Currency unions (search for similar items in EconPapers)
JEL-codes: F33 F36 (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (2)

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Working Paper: Miniblocs and Fringe Currencies of the EMU (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0124

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