Publication detail

History of European monetary integration: From national currencies to euro

Author(s): prof. Ing. Oldřich Dědek CSc.,
Type: Monograph
Year: 2008
Number: 5
ISSN / ISBN: 978-80-7400-076-8
Published in: Beckova edice ekonomie, Praha, Nakladatelství C. H. Beck, 250 stran.
Publishing place: Praha
Keywords: common currency, monetary policy, exchange rate systems, Maastricht convergence criteria, European economic integration, optimum currency areas
JEL codes:
Suggested Citation:
Grants: IES Research Framework Institutional task (2005-2011) Integration of the Czech economy into European union and its development
Abstract: The study follows the long and difficult path which was covered by the European monetary integration since the early post-war attempts at the exchange rate stability until the introduction of the single currency. The attention is paid to various forms of exchange rate arrangements as well as to key concepts which proved useful in understanding and analysing problems of the time. Contemporary problems in the monetary area are viewed from the broader perspective of European economic integration. Such an historical approach reveals how rich was the experimentation with various exchange rate regimes with the aim to reach the exchange rate stability among member countries. Against this historical evolution the emergence of EMU can be seen as the product of a long trial-and-error process which delivered single currency only after other options in organising monetary affairs had been exercised and subsequently abandoned due to their intrinsic weak-nesses.

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