‘The Generous Utopia of Yesterday Can Become the Practical Achievement of Tomorrow’: 1000 Years of Monetary Union in Europe
Luca Einaudi
Monetary unions have been a recurring element in European history, driven by the need to overcome obstacles trade caused fragmentation of political authority. Between 14th and 19th centuries, series coinage were set up German speaking world, which served as models for Latin Scandinavian monetary 1865 1872. With growing size participating states transformation money, thanks end bimetallism wider use bank notes deposits, objectives practical management became more complex political. union strictly associated with federalism required new common institutions after classical metallic standards 1914.
National Institute Economic Review