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1981•Review of Regional StudiesOpen access

The European Monetary System: An Economic Approach to Regional Economic Integration

Peter Schaal

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Abstract

The European Monetary System was meant to create a stable currency and a powerful monetary bloc in the world to contribute to the stabilization of the world monetary system. This article examines how realistic these targets are and to what extent the development of exchange rates in the European Monetary System during its two and a half years of existence were compatible with them.

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The European Monetary System was meant to create a stable currency and a powerful monetary bloc in the world to contribute to the stabilization of the world monetary system. This article examines how realistic these targets are and to what extent the development of exchange rates in the European Monetary System during its two and a half years of existence were compatible with them.

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The European Monetary System was meant to create a stable currency and a powerful monetary bloc in the world to contribute to the stabilization of the world monetary system. This article examines how realistic these targets are and to what extent the development of exchange rates in the European Monetary System during its two and a half years of existence were compatible with them.

Key concepts: European Monetary System, Monetary system, Economics, Currency, Monetary hegemony, International economics, Monetary base, Monetary economics

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