Paul Volcker om euron 1998

Finally, we must emphasize the fundamental importance of reform of the exchange rate system. Indifference to swings in the major exchange rates, ranging to 50 per cent or more over a year or two, cannot any longer be justified.

There is a clear possibility the introduction of the euro will complicate matters here.   
 
Paul Volcker, Financial Times 1998-10-07

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