Monetary Theory provides an alternative to monetary economics based on the distinctive properties of money banking. The book:
*Shows that the distinction between money and income is rooted in the banking practice
*Examines exchange rate instability and financial crisis
*Puts forward an alternative proposal for European Monetary Union.
Alvaro Cencini is Professor of Monetary Economics at the Centre for Banking Studies and at the University della Svizzera Italiana, Lugano, Switzerland. He is also a member of the Centre d’études monétaires et financières at the University of Bourgogne, France.