At the Halifax Summit, in June 1995, the leaders of the G-7 countries proposed several steps to strenghen the international financial system and to apply the lessons taught by the Mexican crisis of 1994-95. Most of those steps have now been taken. They represent a cohesive response to the most...

At the Halifax Summit, in June 1995, the leaders of the G-7 countries proposed several steps to strenghen the international financial system and to apply the lessons taught by the Mexican crisis of 1994-95. Most of those steps have now been taken. They represent a cohesive response to the most...

This essay examines the connection between the establishment of a common market and additional moves to monetary and political union. It then reviews both the monetary and fiscal aspects of ninteenth-century German unification. Finally, it discusses what modern Europe can and should learn from...