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The History of Monetary Integration in Europe

Horst Tomann

Chapter Lecture 1 in Monetary Integration in Europe, 2007, pp 1-16 from Palgrave Macmillan

Abstract: Abstract Looking back from the European Monetary Union, which was established in 1999, the objective of creating ‘an ever closer union’ has been clearly achieved in the monetary sphere of the economy. At the present time, the euro area consists of 13 member states whose economic potential is comparable to the United States. Moreover, the euro increasingly serves as a vehicle currency and a reserve currency in international relations and, in these functions, competes with the US dollar.

Keywords: Exchange Rate; Monetary Policy; Central Bank; Real Exchange Rate; Monetary Union (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230288621_1

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