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dc.contributor.authorKalinowski, Wojtek
dc.contributor.authorThéret, Bruno
dc.date.accessioned2012-10-06T09:30:13Z
dc.date.available2012-10-06T09:30:13Z
dc.date.issued2012-09
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/10448
dc.language.isoenen
dc.subjectUnions monétairesen
dc.subjectUnion économique et monétaireen
dc.subjectEuroen
dc.subjectSystème monétaire européenen
dc.subject.ddc332en
dc.titleThe Euro as Common Money, not a Single Currency : a Plea for a European Monetary Federalismen
dc.typeDocument de travail / Working paper
dc.description.abstractenThe euro crisis forces us to completely rethink European monetary policy. The European Central Bank’s policy of buying back sovereign debt does not address the real problem: it is only a way of propping up a system that has already failed. A structural response to the crisis would consist of giving states back the power to act, but in a way that would not destroy the monetary union. This paper suggest a way in which, while preserving the Eurozone, each state would put into circulation in its own territory a comple-mentary currency guaranteed by tax revenue and pegged to the euro, what we call a “fiscal currency”. This parallel currency would be a “popular” currency, issued as bills in small denominations and intended for day-to-day purchases. The euro would continue to be used for large transactions, transactions occurring at the European level, and for savings.en
dc.publisher.nameInstitut Veblenen
dc.publisher.cityParisen
dc.identifier.citationpages10en
dc.subject.ddclabelEconomie financièreen
dc.identifier.citationdate2012-09
dc.description.submittednonen


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