This book explains the political background and describes the
decision-making leading to European Monetary Union, as seen by a
former central banker who participated in the process during more
than two decades. Political rather than economic considerations
were decisive in establishing EMU. French-German relations in
particular form a thread that runs through the book, notably French
efforts to replace German monetary domination by a form of
decision-making France can influence. Thus, the issues involved are
issues of power, though often presented in technical terms of
economics.
General
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