Prospects for Moving to Monetary Union: Concluding Thoughts

Abstract

The recent renewal of official interest in European monetary union made the topic of this conference timely and pertinent. European monetary union has been a goal of the EEC since the Werner Report in 1971, but during the ensuing years progress toward monetary union has been slow, if not at times retrogressive. In the last few years there has been growing recognition of several problems inherent in a monetary union among diverse economies, and suggestions have been made for alternative approaches to monetary union. This conference has directed attention to a number of these issues. Among the diverse opinions voiced and topics discussed, there appeared to be a consensus among conference participants on three underlying presumptions.