Założenia europejskiego systemu walutowego
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Wydział Prawa i Administracji UAM
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Foundations of the European monetary system
Abstract
The article is devoted to the European monetary system instituted in Dec.
1978. It became a result of the long lasting search for stabilizing currency relations
between member states of the European Community. Therefore, also the said search
is discussed in consideration of the Treaty of Rome provisions of 1957. Particular
emphasis wa slaid on theses of the Werner report on the economic-monetary union
and of the Tindemans report on the European union. Much attention was focused
on the so-called „currency serpent" which was mentioned in the both reports as
a prerequisite to achieve the monetary stability. The initiative of Valéry Giscard
d'Estaing and of Helmut Schmidt to constitute the European monetary system was
indicated. The system was established by the decission of the European Council
of Dec. 1978.
The article discusses functions of the European monetary system and its specific
parts. The evolution of clearing unit effected in the ECU (European Currency
Unit) is presented. The way of calculating ECU, scope of its application is explained
together with postulates to modify it and transform into a European currency.
There are three types of crediting member states related to the monetary system
as well as the system of currency intervention what can prove the range of
monetary cooperation among the central banks of the Communities' member states.
In the concluding remarks there are several postulates expressed as to improvements
in functioning the European monetary system as well as reservations
to the possibility of their realization.
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Digitalizacja i deponowanie archiwalnych zeszytów RPEiS sfinansowane przez MNiSW w ramach realizacji umowy nr 541/P-DUN/2016
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Ruch Prawniczy, Ekonomiczny i Socjologiczny 48, 1986, z. 1, s. 51-61