The Economist (US), May 21st, 1988
The common market is unlikely to get a central bank, let alone a single currency, by the end of 1992. But the chances are that capital flows between the majority of members will be free by then. This would be a modest achievement, and, for half the members, means practically nothing. Britain, West Germany, Holland and Denmark have no capital controls left; and the Belgians and Luxembourgers have almost dismantled theirs. It is the other six members who need to make an effort.
France and Italy have relatively few major controls compared with the poorest EEC countries-Ireland, Greece, Spain a...
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