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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Economic Review

Jul/Aug, 1990

The EMU: Forerunners and Durability

Robert F. Graboyes

Examines the history and theory of a monetary union to ask what factors will foster a stable European Monetary Union. It concludes that a decentralized arrangement of national central banks may undermine the EMU’s durability.

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Lisa Davis (804) 697-8179

Economic Review

Jul/Aug, 1990

The EMU: Forerunners and Durability

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