Wahrungsprobleme Der Ewg / Die Ausnutzung Eines Gesamtwirtschaftlichen Prognosesystems Fur Wirtschaftliche Entscheidungen

The problem of a monetary union is now before the Common Market authorities, in relation with the problem of a politieal union. We must define the monetary institution to be attained and eoneeive the sueeessive steps of progress. For the development of the market, money must be an instrument of integration. The final aim must be a eommon eurreney, in a eurreney area submitted to a eommon eeonomie poliey. This eurreney should be unbreakable, but a system alike to the Federal Reserve System would be advisable, rather than an unitary system. The first "technieal" steps include a reduetion of the exchange margins between Common Market eurreneies, as weH as an alignment of policies suffieient to preclude disruption of parities. Another approach is as important: i. e. to assoeiate the publie in the move by introdueing a eommon unit of aeeount: its useshouldbeeneouraged in international relations and in financial markets. This would bring the monetary union rapidly beyond the point of no return. Resume Le probleme de l'union monetaire est actuellement pose au Marche Commun Europeen, parallelement a celui de l'union politique. Il faut defi­ nir l'objectif monetaire et concevoir les etapes et formes d'une evolution progressive. La monnaie doit s'inserer dans le developpement du Marelle Commun comme un instrument d'integration. L'objectif final doit ~tre une monnaie commune, dans une aire monetaire soumise a politique conjoncturelle commune; celle-ci doit ~tre indissociable, mais un systeme du type de la Reserve Federale s'impose, plut6t qu'un systeme uni ta ire.