For many reasons, payment systems are subject to strong network effects; one of those is the necessity of interoperability among participants. This is often accomplished via standard-setting organizations. The goal of the Single European Payments Area (SEPA) is to establish modern cross-boarder...

There seems to exist a consensus that transnational labour mobility will help to equalize workers` incomes and domestic product per head between the member countries of a monetary union. However, the t́he new economic geography` which stresses the centrifugal spatial forces of economic activity...