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Erschienen in:
2014 | OriginalPaper | Buchkapitel
Euro: The Main Problems and Solutions
verfasst von : Leszek Balcerowicz
Erschienen in: Poland and the Eurozone
Verlag: Palgrave Macmillan UK
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Two main objections are raised against the euro. The first is expressed in a popular statement: ‘One monetary policy can’t fit all’, which implies that countries, especially larger ones, should have their own currencies, and — as a result — floating rates of exchange. The second objection is contained in another popular saying: ‘Monetary union requires fiscal (political) union’. I will discuss these two objections and present my own view as to what are the main weaknesses of the euro architecture in its present form and what should be done to improve it.