According to the theory of optimal currency areas, a central fiscal policy is necessary because a single interest rate will not suit conditions in all parts of a currency zone.

根据最优货币区域理论，确立一个中央财政政策很有必要，因为单一利率并不适于货币区域内所有地区的情况。

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EMU political unity, whether one ad-mits it or not it becomes clear that the literature on optimum currency areas has no relevance.

ECONOMIST: Europe's single currency