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The Political Consequences of Monetary Union

By: Tietmeyer, Hans | Management Services, May 1998 | Article details

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The Political Consequences of Monetary Union


Tietmeyer, Hans, Management Services


Our second paper this month on EMU is based on a speech by the President of the Deutches Bundesbank, Dr Hans Tietmeyer given in Brussels at the end of February.

He emphasised that the Euro is not a formula for deliverance from all economic and political ills in Europe and that a stable single currency needs not only a sound economic but also a sound political foundation

Some current contributions to the subject of the Euro from time to time remind me of St Matthew's words Beware of false prophets". Some tend to paint a picture of catastrophe, while others herald the way to paradise. I consider both to be wrong.

Certainly the Euro as the future Community currency …

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