“I started remarking against the idea of a common European currency, saying why not simply admit all the other currencies competing with yours, and then you don’t need a standard currency. People will choose the one which is best. That, of course, led me to the extension: Why confine it to other government moneys and not let private enterprise supply the money?”
F. A. Hayek, 1978, interviewed by Axel Leijonhufvud.
