European equities are outpacing the U.S. market in early 2025, with the MSCI EMU Index up 11% year-to-date — nearly eight ...

EMU’s apparent success led many to forget some initial misgivings. Was it really an optimal currency union? Would countries have enough flexibility to handle shocks without recourse to the exchange ...

The US dollar enjoys a firmer tone today after falling to new two-month lows against several of the G10 currencies. The Eurozone and the UK's preliminary PMI disappointed, and British retail sales ...

Froot, K. A., and K. Rogoff. "The EMS, the EMU and the Transition to a Common Currency." In Macroeconomics Annual 1991, edited by O. Blanchard and S. Fischer, 269 ...

Why does the international monetary system seem to need only one or, at most, a few national currencies to carry out international transactions? This article offers an explanation, discusses recent ...