English, Article edition: Aspects of European Economic and Monetary Union Helmut Kramer

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Bookmark: http://trove.nla.gov.au/version/98548
Physical Description
  • article
Language
  • English

Edition details

Title
  • Aspects of European Economic and Monetary Union
Author
  • Helmut Kramer
Physical Description
  • article
Notes
  • With the launching of Economic and Monetary Union (EMU) on 1 January 1999, the prerequisites should be in place to make European economies more competitive in the long run. Skeptical economists have forwarded numerous reasons why EMU will not work, usually based on the "optimal currency area" theory. Any further progress in the economic convergence of member states certainly will require monetary union as its basis. For the Austrian economy, participating in EMU is a necessary and logical step following its past economic policy, which will nevertheless present business and politicians alike with new challenges.
  • RePEc:wfo:wquart:y:1998:i:3:p:131-136
  • European economic and monetary union (EMU), due to start in 1999, is expected primarily to improve the effectiveness of the internal market because it should eliminate most of the uncertainties surrounding exchange rates and their costs. EMU will strengthen competition and put the risks of foreign trade and international investment on a more calculable basis. There are also grounds to assume that the single currency, being a viable alternative to the dollar, will provide more weight and influence for the European Union as a player in the global economy.
  • Zu den Beschlüssen über die Europäische Wirtschafts- und Währungsunion; Aspects of European Economic and Monetary Union
  • RePEc:wfo:monber:y:1998:i:5:p:307-312
Language
  • English
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