Why European monetary union?

European monetary integration is on the agenda. In April 1989, the Dublin European Council announced its agreement on the European Monetary Union by January 1993, the date of the planned completion of the large internal European market. While the heads of state and government encourage monetary integration for essentially political reasons, economists examine the costs and benefits. This paper attempts to answer two fundamental questions that an economist would like to ask about European monetary integration: What are the reasons for moving towards monetary integration? What are the concrete measures