Does EMU Make Sense for Europe?

F. Barry

Working Papers from College Dublin, Department of Political Economy-

Abstract: There is virtually unanimous agreement that trade integration within the European Union is to everyone's advantage. No such unanimity exists however over the net benefits, or the distribution of benefits, likely to flow from monetary union. Intense debate continues, both at the theoretical and at the empirical level, over the issue of a single currency for Europe. Advocates of EMU who focus on the political rather than the economic aspects argue that too much political capital has been invested in EMU already for the project to be postponed or abandoned. Those of the opposite persuasion focus on the tensions that will inevitably arise in the operation of the single curency; these tensions, they suggest, will use up political energy that could otherwise be devoted to the expansion of the EU, the benefits of which are not in doubt. The present paper reviews this debate.

Keywords: EUROPEAN; MONETARY; SYSTEM (search for similar items in EconPapers)
JEL-codes: F33 (search for similar items in EconPapers)
Pages: 24 pages
Date: 1997
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:fth:dublec:97/25

Access Statistics for this paper

More papers in Working Papers from College Dublin, Department of Political Economy- Ireland; University College Dublin, Department of Political Economy, Centre for Economic Research, Belfield, Dublin 4. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().