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Articles on Issue Theme

Gabriel MURSA

Universitatea “Alexandru Ioan Cuza” din Iaşi

The main purpose of this paper is to demonstrate that a single European currency project proves to be a failure. Although it was designed to limit the discretionary monetary policy of the national governments and to stimulate the economic exchanges within the European Union, the euro seems to be used by politicians to enhance centralism and control over all economic activities in Europe. This article aims to show that the European single currency does not differ essentially from any other fiat currencies used by modern monetary monopolies, i.e. national central banks. It continues to be an instrument of social engineering, has a fiduciary character, limits the freedom of choice of European citizens and concentrates an enormous power in the hands of European officials.

ŒCONOMICA no. 3/2012

Keywords: single currency, monetary policy, fiat currency, monetary monopoly, freedom of choice

JEL: E40, E52, E58, E62

Eşecul monedei unice europene

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