W��hrungsprobleme der EWG / Die Ausnutzung eines gesamtwirtschaftlichen Prognosesystems f��r 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 lunion monetaire est actuellement pose au Marche Commun Europeen parallelement a celui de lunion politique. Il faut defi­ nir lobjectif monetaire et concevoir les etapes et formes dune evolution progressive. La monnaie doit sinserer dans le developpement du Marelle Commun comme un instrument dintegration. Lobjectif 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 simpose plut6t quun systeme uni ta ire.