Experience with historical monetary unions
Monetary unions of the past had a better chance of success if economic policies of the participating states were in harmony. Example: The Scandinavian Monetary Union in contrast to the Latin Monetary Union. 0 Since harmony of economic policies could not be maintained under political stress (in the First World War), even the Scandinavian Union failed. .1 0 The only cases where monetary unions have survived up toQiow are those of general political, economic, and monetary unification: Switzerland, Italy and Germany. In monetary matters, the centralizing of decisions has been a minimum requirement for the success of a union. 0 No historical monetary union has brought about political unification. It has always been the other way round.
Year of publication: |
1970
|
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Authors: | Krämer, Hans R. |
Institutions: | Institut für Weltwirtschaft (IfW) |
Saved in:
freely available
Extent: | application/pdf |
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Series: | Kiel Discussion Papers. - ISSN 0455-0420. |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Number 5 |
Source: |
Persistent link: https://www.econbiz.de/10009647005
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