A PLAN FOR A EUROPEAN CURRENCY*
University of Waterloo
I THE PROBLEM
Europe today stands at a cross-roads, in politics, in technology, in economics, in culture. I shall have to mention why this is so at the end of my discussion. But my thesis today is that Europe stands at a monetary cross-roads.
The cross-roads represent a choice. What is the best choice among the alternatives?
First, we have to see the problem. Does Europe have a monetary problem? What solutions are available? What solution is best?
The place to start is with the present arrangements. What are they? Can they be improved? What solutions are compatible with other economic, social, political and cultural objectives?
I shall begin with a discussion of ...
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