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Helmut Schlesinger; former president of the Deutsche Bundesbank, is professor at the Post-Graduate School of Administrative Sciences Speyer; a guest professor atthe University of Karisruhe, and will teach in the fall at Princeton University This article is taken from the Eighth Annual Homer Jones Memorial Lecture, delivered at the Federal Reserve Bank of St. Louis on April 14, 1994. The authors comments do not necessarily reflect the views of the Federal Reserve Bank of St. Louis or the Federal Reserve System.

On the Way to a New Monetary Union: The European Monetary Union (The Eighth Annual Homer Jones Memorial Lecture)