Optimal Currency Areas and Governance: The Challenge of Europe
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In preparing this paper I have decided not to embark upon the decades-old issue of optimal-currency areas and governance as such. I assume that one of my colleagues on the panel will do that. Instead I will present an historical case of over-indebtedness of parts of a common-currency area somewhat similar to the present challenge of Europe, or rather of the Euro area with its common currency.
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- BWpaper HOLTFRERICH 040811 (pdf, 228.7 KB)