- According to Cohen, what are the variables that determine states’ decisions about their relationships to the international monetary system? Which do you think matter most?
- How does McNamara explain the European states’ movement towards monetary union?
- Why do you think the Euro states sacrificed the benefits of national currencies to adopt the Euro? Why didn’t they just all fix their currencies to a common peg and eliminate capital controls? Why did they go the extra step of adopting a single currency?
- Combining Cohen & McNamara, do you think we will see more currency unions in the future? Will we have more currencies or fewer?
Class 16 Discussion Questions
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