He concluded: “Although it is impossible to know for certain whether these conflicts would lead to war, it is too real a possibility to ignore in weighing the potential effects of EMU and the European political integration that would follow.”2 However, there were not only negative or sceptical views on EMU.
One of the most prominent proponents of EMU, Nobel laureate Robert Mundell, describes the benefits of a successful EMU: “Members of the EMU will get not just a currency on par with the dollar and the right to share in international seigniorage but also greater influence in the running of the international monetary system.