What are, then, the benefits and costs of monetary union?
But it was the price they had to pay in a monetary union.
I think things would be a lot worse off to leave to monetary union.
It is true that we do not have just a monetary union.
My second point is that we want the monetary union to be taken to the next stage.
Economic and monetary union is no more than a means!
So there is no relationship between economic growth and monetary union.
A number of other points were made, particularly with regard to monetary union.
We want economic and monetary union to be a success.
The course is now being set for the third stage of economic and monetary union.
In 1837, the southern states of Germany formed a currency union.
"I've always believed they would create a currency union sooner rather than later," he said.
The Chancellor could not have been more clear as to how, in his view, matters would move forward from the basis of a currency union.
The move was seen as likely to correspond with the introduction of a currency union between the two countries.
A currency union is likely to lead to a reduction in member countries' natural rate of unemployment.
Officials of other countries were also coming around to the view that German currency union would not lift inflation.
But I think things will calm down after currency union.
When currency union was adopted, there were 12 million unemployed.
There's no reason the currency union has to cut away all the stragglers.
The single currency union was a gamble and now it is time to face facts.
