25 years since the ECU was established, this work analyzes the situation in the international monetary system, where the prevailing disorder is disrupting economies, undermining growth, provoking protectionism and threatening to set the nations against each other.

25 years since the ECU was established, this work analyzes the situation in the international monetary system, where the prevailing disorder is disrupting economies, undermining growth, provoking protectionism and threatening to set the nations against each other.

The author does not believe that the governments of the European Community - even supposing that they can agree on the matter - will succeed in imposing the ECU as a payment and reserve currency for use in the EEC''s external trade. In the external market the choice of currency is free and a brand new currency will only be chosen if it is better than all the alternatives and if it has been successfully ''promoted''.

25 years since the ECU was established, this work analyzes the situation in the international monetary system, where the prevailing disorder is disrupting economies, undermining growth, provoking protectionism and threatening to set the nations against each other.

25 years since the ECU was established, this work analyzes the situation in the international monetary system, where the prevailing disorder is disrupting economies, undermining growth, provoking protectionism and threatening to set the nations against each other.

The author does not believe that the governments of the European Community - even supposing that they can agree on the matter - will succeed in imposing the ECU as a payment and reserve currency for use in the EEC''s external trade. In the external market the choice of currency is free and a brand new currency will only be chosen if it is better than all the alternatives and if it has been successfully ''promoted''.