A single monetary policy for a currency area comprising 11 – and later 12 – countries, each with a sovereign national government, was something entirely new. Would it be compatible with autonomous national fiscal policies?
在11、后来是12个有着各自主权政府的国家组成的货币区域中实行单一的货币政策是一个全新的挑战。单一货币政策能否和自治国的财政政策相吻合？在如此分散的体系中，国家利益会不会扭曲货币政策？