Editorial
On February 24–25, 2006 an international workshop on “Regional and International Currency Arrangements” was held in Vienna. It was jointly organized by George Tavlas (Bank of Greece) and Eduard Hochreiter (Oesterreichische Nationalbank). Academic economists and researchers from central banks and international organizations presented and discussed current research and tried to review and assess the past experience with and the future challenges for international currency arrangements. A number of papers and the contributions by the discussants presented at this workshop are being made available to a broader audience in the Working Paper series of the Oesterreichische Nationalbank and simultaneously also in the Working Paper Series of the Bank of Greece. The papers and the discussants comments will be published in International Economics and Economic Policy. This volume contains the first of these papers. In addition to the paper by Otmar Issing the Working Paper also contains the contributions of the designated discussants Mario Blejer and Leslie Lipschitz.