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Discussion Paper Details

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Title: The Political Economy of Monetary Union in Europe

Author(s): Paul De Grauwe

Publication Date: September 1993

Keyword(s): Europe, Monetary Integration and Political Economy

Programme Area(s): International Macroeconomics

Abstract: The Maastricht transition strategy towards monetary union is based on the idea that the transition strategy should be gradual, and that entry into the union should be conditional on the fulfilment of convergence criteria. It is argued in this paper that this approach is not based on an economic necessity, but on a political one. In particular, it serves the political objective of Germany to keep the union small.

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Bibliographic Reference

De Grauwe, P. 1993. 'The Political Economy of Monetary Union in Europe'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=842