... degree of national economic sovereignty, while the Maastricht plan appears to offer Single European Currency members very little national economic sovereignty. Analyses the Exchange Rate Mechanism (ERM), to assess what national economic sovereignty EU countries currently enjoy. It becomes apparent...

... (or others) if they are not allocated to another speed on a different criterion? How should the relations between core and periphery be managed? Should we have an interbloc ERM, or floating, or possibly explicit co‐ordination without an ERM framework? Should the periphery countries co‐operate among...

...Colin Turner The recent crisis in the ERM has meant EMU can no longer proceed along the lines proposed in the Maastricht Treaty. Proposes that a two or even multi‐speed EMU should emerge from the crisis. This would be based on a “hardcore” which would form the basis for exchange rate/macro policy...