for more than three decades, the european vision has included the objective of achieving a single currency for europe. the original proposal set out in the 1972 Warner report, ,moresoover,monitering union by 1980, but inplementation is derailed by 1970s' oil shock, and worldwide move to floating exchanging rates, more recently a single currency has been a necessary element in order to complete the european's in-union single market,without such reform the exchange fluctuations which results from trading between currencies create major barriers across border trade and investment within europe.作者: yoyo530521 时间: 2007-10-22 16:39
For more than three decades, the European vision has included the objective of achieving a single currency for Europe. The original proposals set out in the 1972Werner report foresaw monetary union by 1980 but implementation was derailed by the 1970s' oil shock and the worldwide move to floating exchange rates. More recently, a single currency has been seen as a necessary element in order to complete the European Union's single market. Without such a reform, exchange rate fluctuations which result from trading between currencies create major barriers to cross border trade and investment within Europe.
