Meanwhile the debate on European political and monetary union continues.
Certainly, central banking was markedly different from our own day and monetary policy did not exist as an instrument of economic policy.
Monetary policy can not take account of the needs of different regions or countries and fiscal policy must not obstruct it.
With trifling exceptions the record is restricted to monetary values.
There seems no reason not to allow that monetary compensation may, at least in some cases, be a suitable remedy in public law.
Often these programmes are expressed in terms of agreed monetary and financial targets to which the member country is expected to adhere.
