Competing Monies, European Monetary Union and the Dollar

Abstract

Since I am going to criticise the All Saints’ Day Manifesto (see p. 37–43 and the attempt to achieve European monetary union by the creation of a parallel European currency, I should explicitly state at the outset that I am very sympathetic to the major thrust of the proposal. First of all, it represents an increased understanding and awareness that we must move towards a more predictable monetary framework. In addition, it clearly recognizes the economic forces that exist in favour of the establishment of a single unified currency within an interdependent trade area such as the European community. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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