Structural Changes in the RMB Exchange Rate Mechanism

2020 ◽  
Author(s):  
Guanyu Su ◽  
Junhui Qian
1996 ◽  
Vol 31 (6) ◽  
pp. 277-281
Author(s):  
Christa Randzio-Plath

Author(s):  
Leo Flynn

Article 124(1) EC Each Member State with a derogation shall treat its exchange-rate policy as a matter of common interest. In so doing, Member States shall take account of the experience acquired in cooperation within the framework of the exchange-rate mechanism.


Author(s):  
Simon Usherwood ◽  
John Pinder

Monetary union requires that money in all its forms be able to move freely across frontiers between member states and that exchange rates changes between them be abolished. ‘Single market, single currency’ explains how the single market programme went far towards fulfilling the first requirement and the Exchange Rate Mechanism prepared the ground for the second. The legislative framework guarantees producers an extensive market and consumers a reasonable assurance of competitive behaviour between them. The euro was initially acclaimed as marking a new stage in European integration, but recent financial crises have exposed the flipside of this, with the euro as the crucible of political commitment to the EU.


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