Michael W. Klein
Abstract
The discussion briefly reviews the events leading up to the adoption of the European Monetary System in March 1979 and the associated Exchange Rate Mechanism. It goes on to describe the Maastricht Treaty and to review the costs and benefits of a common currency. The author also considers the importance of European Monetary Union (EMU) from a U.S. perspective.
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The discussion briefly reviews the events leading up to the adoption of the European Monetary System in March 1979 and the associated Exchange Rate Mechanism. It goes on to describe the Maastricht Treaty and to review the costs and benefits of a common currency. The author also considers the importance of European Monetary Union (EMU) from a U.S. perspective.
Key concepts: Maastricht Treaty, European Monetary System, Economics, Economic and monetary union, European monetary union, International economics, Currency, European union