European Monetary Integration Hindered by National Sovereignty and Political Motives.
European monetary integration has been influenced by political factors throughout history. Political motives have both advanced and hindered the process. Efforts to coordinate economic and monetary policies have faced challenges due to differing national priorities. Despite setbacks, initiatives like the EMS and the Maastricht Treaty have aimed to promote economic convergence and create a European currency. However, issues like national sovereignty and lack of agreement on political union elements have impeded progress towards Economic and Monetary Union (EMU).