The Park Place Economist


Looking back just the last several years it is easy to find the how the differences in EU economies could cause problems in the future. The problems that were experienced during the curiency crises in Italy and Spain in 1992, where the countries had a dicult time keeping inflation rates on a low German level, and more importantly the British currency crisis of 1993, are just a taste of the problems which will arise as the EMU comes closer to reality (DeGrauwe, 1994).