Nicolas Fouquet, superintendent for the Financing system in France, was judged in December 1664, for the embezzlement of public funds. His process was not meant to be a glory for Louis XIVth : irregularities, tricks of evidences, pressures on witnesses have allowed the Court to partially give a...

The loss of the sovereign interest rate and exchange rate instruments is the main potential cost of joining a monetary union since it becomes more difficult to adjust swiftly to shocks. In the case of demand shocks that affect all countries more or less equally (symmetric shocks), the loss of...