Europe's monetary union and the United States.

Foreign Policy | March 22, 1996| | Copyright

Profound skepticism pervades American attitudes toward the European Union's plan to create a monetary union. Thus, the United States has not treated European monetary integration as a serious policy issue. Despite the fact that the prospects for economic and monetary union (EMU) are uncertain, the likelihood that a common currency will be created is much higher than the conventional wisdom suggests. Particularly if France overcomes its recent crisis over economic policy, there is a reasonably good chance that at least a "hard core" of European Union (EU) members will achieve ...

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