I accept your topic. You will present various arguments for and against fixed rates and arguments for and against flexible rates. Very nice idea to discuss the Canadian experience to assess the argument that speculation is destabilizing. You have to decide if you want to discuss the Optimal Currency Area. I think that is not the focus of your paper. I think you want to consider a country, such as Canada, which is not part of a group like the Euro area. Some economists believe that flexible rates for a country like Canada is the only feasible policy: that is, fixed exchange rates are just not feasible in a world of high capital mobility. I did not understand your first section. I haven’t heard of spectral exchange system. I don’t know why you want to get into public attitudes toward exchange rate systems; for the most part the public doesn’t understand the issues and doesn’t vote on the alternatives (except in the unusual case of the euro, where the Greek public decided to stick with the euro rather than leave the euro and go back to the drachma
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