Eichengreen, Barry. <br/><br/>
Sui Generis EMU / 
Barry Eichengreen. 
 - Cambridge, Mass.  National Bureau of Economic Research  2008. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w13740 .
 - Working Paper Series (National Bureau of Economic Research)  no. w13740. .
<br/><br/> January 2008. 
<br/><br/> The thesis of this paper is that there is no historical precedent for Europe's monetary union (EMU).  While it is possible to point to similar historical experiences, the most obvious of which were in the 19th century, occurred in Europe, and had "union" as part of their names, EMU differs from these earlier monetary unions.  The closer one looks the more uncomfortable one becomes with the effort to draw parallels on the basis of historical experience.  It is argued that efforts to draw parallels between EMU and monetary unions past are more likely to mislead than to offer useful insights. Where history is useful is not in drawing parallels but in pinpointing differences.  It is useful for highlighting what is distinctive about EMU. 
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