000 00672nam a2200121Ia 4500
005 20260716043344.0
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 _c45516
_d45516