000			00643nam a2200109Ia 4500
100			_aSALVATORE, Dominic
245			_aCommon unresolved problem with the EMS and EMU.
260			_c1997
520			_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.
583			_c3/7/00 _kM2LMGR
942			_cA
999			_c22181 _d22181