Vonnahme, Paul and Hartwig, Mark J. (1991) "The European Community: in search of a key currency". In: UNSPECIFIED, Fairfax, Virginia. (Unpublished)
The year 1992 has been marked in the calendars of Europe's leadership as the major turning point in a progression of events which, if successful, is expected to culminate in the establishment of Western Europe as an economic super-power. The merger ,of the participant States' into a single economic union would generate a cumulative Gross National Product comparable to that of the United States and is additionally seen by many as a significant step towards the establishment of a single Western European political entity. Perhaps the most ambitious aspect of the Western European plan for political and economic integration is the drive for a European Monetary Union. Central to this proposal, and the subject of often heated negotiations among the 12 member States of the European Community (EC), is the creation of a single European currency known as the European Currency Unit (ECU).
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