00672nam a2200121Ia 450000500170000010000230001724500520004026000090009252004070010158300190050894200060052799900170053320260716043344.0  aSALVATORE, Dominic  aCommon unresolved problem with the EMS and EMU.  c1997  aPoints out that although establishing the EMU will overcome some of the pitfalls of the EMS which delayed the cause of monetary union in Europe, it will face the same basic problem as the EMS. Specifically, the EMS crises reinforced the belief that a nation cannot simultaneously have fixed exchange rates, unrestricted international financial capital flows, and even a semi-autonomous monetary policy.  c3/7/00kM2LMGR  cA  c45516d45516