The International Monetary System in a Real Economy

The paper offers a brief analysis of the reasons why European Monetary Union receives the support of academics and operators alike as a great step forward in constructing global monetary stability. Cooperation that will lead to a stable international monetary system is recognized as a primary goal for both the real economy and high finance. Technological innovation, increasingly global markets, unlimited access to capital, the disappearance of national sovereignty and, above all, the heightened role of values in the business environment, all contribute to the realization of this goal and to a stronger world economy. Copyright Kluwer Academic Publishers 1998