The European Monetary System — Past, Present and Future

✍ Scribed by Dr. Peter Coffey (auth.)

Publisher: Springer Netherlands
Year: 1986
Tongue: English
Leaves: 172
Edition: 2
Category: Library

No coin nor oath required. For personal study only.

✦ Synopsis

The European M::metary System (EMS) is perhaps the only success story of the Common Market since the First Enlargement. Its success, particul arly where the comnercial use of the ECU is concerned, has taken rrost experts by surprise. So much so, that when the author tried to recommend to his students a suitable and substantial work of study and/or reference about the experience of the EMS and its possible future evolution --- no book could be found. Thus, the author set out to write the present work. The author's aim is not to give a historical account of the EHS. Rather, the intention is to place the experience in a major historical context wherein the System is seen an important transitional phase on the road to the implementation of a full economic and rronetary union (EMU) • When examining the earlier plans for an EMU which saw the light of day between 1969 and 1970 (already so long ago!) clear reasons emerge why the original six founder Member States of the EEC should have found it logical to embark upon the road to an El'1U - "p=vided the political will to do so existed". Thus, they had become highly integrated and were conducting half their trade with each other. Then, there was the desire to integrate still further ---- eventually leading (perhaps) to a political union.

✦ Table of Contents

Front Matter....Pages I-5
An Economic and Monetary Union: The Earlier Plans....Pages 6-13
The Experience of the “Snake” System....Pages 13-15
Back Matter....Pages 16-16
The Reasons for the System....Pages 17-20
The Mechanisms of the System....Pages 21-26
The System in Operation....Pages 27-33
Back Matter....Pages 34-34
The Future Role of the ECU....Pages 35-40
The Convergence of National Economies....Pages 41-44
The Money Supply Question....Pages 45-48
Back Matter....Pages 49-49
A European Capital Market....Pages 50-66
A European Banking System....Pages 67-80
Back Matter....Pages 81-81
The European Monetary Fund....Pages 82-92
Back Matter....Pages 93-93
The United Kingdom....Pages 94-96
The New Member States....Pages 97-100
Back Matter....Pages 101-101
The United States and Japan and Third World Countries....Pages 102-104
Back Matter....Pages 105-105
Basic Considerations....Pages 106-112
Conclusions....Pages 113-122
Back Matter....Pages 123-163

✦ Subjects

Macroeconomics/Monetary Economics

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