Neumann, Manfred J. M. - In: Intereconomics : review of European economic policy 29 (1994) 2, pp. 55-58
The extreme widening of the exchange rate margins last summer has transformed the EMS from a multilateral fixed rate system into a system of unilateral exchange rate pegging. Professor Neumann characterises the current state of the EMS, outlines the major defects of the system and makes some...
