Asymmetries as Sources of Conflict In A Monetary Union

We proceed as follows. Section 7.2 deals with the conflicts arising from the persisting asymmetry of demand shocks, possible unfavourable effects on trade and welfare, lack of national and supranational fiscal stabilizers, low mobility and flexibility of labour and shortage of money stocks for the peripheral countries. Section 7.3 discusses some problems relating to the removal of these obstacles and the pushing of the euro area to high levels of employment and economic activity. Alternative policies are also discussed. Section 7.4 summarizes and concludes