Chapter

Capital Mobility: Why Is the Treaty not Implemented?

Tommaso Padoa‐Schioppa

in The Road to Monetary Union in Europe

Published in print December 2000 | ISBN: 9780199241767
Published online November 2003 | e-ISBN: 9780191596742 | DOI: http://dx.doi.org/10.1093/0199241767.003.0003
Capital Mobility: Why Is the Treaty not Implemented?

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An examination is made of the reasons for non‐implementation of Article 67 of the Treaty of Rome, which provides that member states of the European Community (now the European Union) should progressively abolish restrictions on the movement of capital between themselves in order to ensure a common market. The situation prevailing in the early 1960s and in the early 1980s is analysed, and an assessment made of three possible approaches towards defining a new community policy for European capital markets. These are following consistent macro‐policies, capital market integration, and complete European Monetary Union.

Keywords: capital markets; capital mobility; common market; community policy; EC economic policy; EU; European Community; European Union; European Union policy; implementation; macroeconomic policy; Treaty of Rome

Chapter.  6078 words. 

Subjects: Macroeconomics and Monetary Economics

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