Bulletin n. 1/2012
June 2012
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • Beck Hanno, Prinz Aloys
    The trilemma of a monetary union: Another impossible trinity
    in Intereconomics , Volume 47, Number 1 / January 2012 ,  2012 ,  39-43
    A monetary union among autonomous countries cannot simultaneously maintain an independent monetary policy, national fiscal sovereignty and a no-bailout clause. These three features make up an impossible trinity, and attempts to preserve all three concurrently will ultimately end in failure. In order to save EMU, one of these three must be abandoned.
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