Abstract: The introduction of the euro, the setting up of the Monetary Union and the master plan which came out of the Euro-Mediterranean Conference in Barcelona form the bases on which to establish a free trade area between Europe and the Mediterranean countries within 2010. The foreseeable economic effects will be the following: 1) the specialization and exploitation of comparative advantages; 2) a tendency to reduce the terms of trade within the euro area; 3) an appreciation or depreciation which is dependent on the used monetary system. So, which is the best monetary system for this area? This paper illustrates how a Euro-Mediterranean monetary system with managed exchange rates conditioned by economic factors and a central banking system, as is the case of the French franc in French African colonies, is the best system to opt for.

Unique Currency and the Mediterranean: Which is the Best Monetary System to Opt For?

LAURETI, LUCIO
2000

Abstract

Abstract: The introduction of the euro, the setting up of the Monetary Union and the master plan which came out of the Euro-Mediterranean Conference in Barcelona form the bases on which to establish a free trade area between Europe and the Mediterranean countries within 2010. The foreseeable economic effects will be the following: 1) the specialization and exploitation of comparative advantages; 2) a tendency to reduce the terms of trade within the euro area; 3) an appreciation or depreciation which is dependent on the used monetary system. So, which is the best monetary system for this area? This paper illustrates how a Euro-Mediterranean monetary system with managed exchange rates conditioned by economic factors and a central banking system, as is the case of the French franc in French African colonies, is the best system to opt for.
Mediterranean area; monetary system
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/20.500.12572/2142
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