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EMU 1 Optimal Currency Areas 1 Random Shocks 1 Two-speeds 1
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Demertzis, Maria 1 Hughes Hallett, Andrew 1
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C.E.P.R. Discussion Papers 1
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Is a Two-speed System in Europe the Answer to the Conflict between the German and the Anglo-Saxon Models of Monetary Control?
Demertzis, Maria; Hughes Hallett, Andrew - C.E.P.R. Discussion Papers - 1996
The Treaty of Maastricht requires that by 1 January 1999, at the latest, there shall be a nucleus of a monetary union. The issue of monetary union must therefore rest on the presumption that a small ‘credible’ group of countries that fulfils the convergence criteria will be able to adopt a...
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