Monetary Sovereignty under Different International Systems: A Historical Comparison
The decision to create a European monetary union (EMU) has prompted the fear that the introduction of a single currency and a single central bank will deprive member countries of their national monetary sovereignty: the ability to alter monetary and exchange rate policies according to their individual needs. In Britain, in particular, there is growing concern that EMU will inevitably lead to far-reaching constitutional changes of this kind.
KeywordsExchange Rate Monetary Policy International Monetary Fund European Monetary Union Single Currency
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