Making the European Monetary Union

Harold James, 17 February 2013

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It is often claimed – especially but not only by US economists – that the travails of the euro show that it is impossible to have a monetary union in the absence of a political union, and that Europe is necessarily embarking on a US-style experiment in federalism.

Topics: Economic history, EU institutions
Tags: Bretton Woods, Eurozone crisis, German surplus

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