THE EUROPEAN UNION BETWEEN THE MONETARY “SNAKE” AND THE COMMON CURRENCY (original) (raw)

he European economic integration started in the aftermath of the World War II, but its specific monetary story just since 1971. The European Community here made history by her performing, as real lessons of the monetary topic area, but despite this the whole history of money world-wide is much longer than that. The aspect emphasized and developed in this paper will be, however, the one that the “Monetary Snake”(1971), European Monetary System (EMS/1979) and even the current Euro currency seem to have resulted from a deep monetary crisis world-wide. Not being “euro-skeptical”, we conclude that all these could be missed in exchange of a plus of welfare.