16.05.2019 - Studies

The Latin Monetary Union: a precedent for the euro

by Marius Kleinheyer

The project of a European monetary union based on a gold and silver currency in the 19th century quickly failed. There are astonishing parallels to the euro.

The project of a European monetary union based on a gold and silver currency in the 19th century quickly failed. However, the Union held out for a relatively long time because the member states avoided the costs of resignation. Although the conditions in the 19th century were fundamentally different from today's, there are astonishing parallels. The Latin Monetary Union could have been a lesson to the founding fathers of the euro.…

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