The Premier League voted to close the window before the opening weekend of the season due to the complications of kicking off the campaign while many players remain uncertain of their immediate future.
Philippe Coutinho and Alexis Sanchez were among the top players to miss games while speculation swirled around their future.
Monaco vice-president Vadim Vasilyev believes the Premier League have done the right thing and he hopes the rest of the continent follows suit.
He told Sky Sports News: “The best thing would be for FIFA to take the initiative and limit the transfer period for all European clubs, let’s say until July 31.
“It’s too stressful for the clubs [at the moment]. We’ve seen many examples; Lemar, [Kylian] Mbappe, [Philippe] Coutinho, [Ousmane] Dembele. I think it’s not fair to allow changes to be more once the season starts.
It’s fine before the season starts but, once it’s ongoing, you cannot compromise the team and the squad.”
Monaco saw many of their star performers from last season’s Ligue 1 title-winning squad leave in the summer, with Mbappe, Benjamin Mendy, Tiemoue Bakayoko and Bernardo Silva being their most lucrative departures.
“In order to be successful we have to be a selling club,” Vasilyev said. “Our revenues do not allow us to be successful unless we are active in the transfer market. We want to be successful but there are limitations.
“We have limited sources of income. In terms of ticketing, in one domestic season [at home] we make the same as Arsenal makes in one game. We have limited access to sponsors and that means we have to be different and we are different in the way we function.
“The main element is the transfer element and this is what allows us to be successful. It’s not transfers for the sake of making money; it’s being active in the transfer market for the sake of being successful.”