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Punts, Pounds and Euros: In Search an Optimum Currency Area
Beginning of article
J. Peter Neary and D. Rodney Thom*
"What is the appropriate domain of a currency area's It might seem at first sight that the question is purely academic since it hardly appears within the realm of political feasibility that national currencies would ever be abandoned in favour of any other arrangement." Robert A. Mundell ( 1961
Introduction.
Recent statements by the British Government make it clear that the UK will not participate in the first wave of European Monetary Union (EMU) and that sterling will remain outside any proposed exchange rate system between the "ins" and "outs". In contrast, the Irish Government appears totally committed to first-wave …
