Buy custom To what extent do you agree with the view that European Monetary Union is a political instrument that makes little difference to European business?
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| Topic: |
Business
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| Number of pages / Number of words: |
9 / 2446 |
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By giving up their own currencies countries deprived themselves of sovereignty in certain areas of policy making, especially in the national determination of interest rates and of exchange rate policies (Johnson & Turner, 2006: 163). Moreover, resigning their currency has also another political aspect...
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Moreover, resigning their currency has also another political aspect. Money was used to finance warfare so it is also a sign that after centuries of war and conflicts nations agreed to cooperate for the common welfare. As Charles Goodhart said: ‘If the nations of Western Europe no longer expect to wage wars among themselves, they no longer need national instruments of wartime finance...
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