33.01 The present Part of this book has thus far considered monetary unions in the strict sense of the definition which was formulated for that purpose. Earlier chapters1 have considered the State, societary and institutional theories of money, and some of the issues associated with them. As a result, this book has thus far placed a focus on what may be described as the two extremes of the monetary spectrum. At one end, one finds a State which issues its own currency and exercises exclusive sovereignty over its own monetary system. At the other end, one finds the...
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