Abstract
This review article discusses the recent document titled “One Market, One Money” in which the European Commission develops its case for European monetary union. After examining the monetary issues as such, the article focuses on the reasons for the Commission's very worried attitude about fiscal policy autonomy. The closing section considers the problem of the transition to a single money. Attention is also called to the issue of a lender of last resort.
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HEC; and CEPR
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Mélitz, J. Brussels on a single money. Open Econ Rev 2, 323–336 (1991). https://doi.org/10.1007/BF01886150
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DOI: https://doi.org/10.1007/BF01886150