SANDHOLTZ, Wayne creator text 1993 monographic Argues that a drastic shift in the macroeconomic policies of several national governments was a necessary precondition for serious consideration of monetary union. Points out that monetary union was just one option for a European monetary regime, and traces the chain of decisions leading to the conference on monetary union. Concludes that EC governments favoured monetary union for different reasons, at different times. 3/7/00 M2LMGR 20260716043316.0