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European Economic And Monetary Union: Will The Emu Ever Fly The Euro: A New Single Currency For Europe: Legal Framework, Roger J. Goebel

Faculty Scholarship

The title of this article represents a pun, but a pun with a point that responds to the tensions between these dreams of EMU's success and fears of its failure. The emu is a large Australian bird, but, like the better-known ostrich, the emu does not fly. However, it can run very fast. The point is, that during the early stages of planning for the EMU there were some very high-flying aspirations for what it might attain, and what its attainment might mean for the political future of the European Union. Since then, these aspirations have been considerably chilled by …