Economic and monetary union in Europe. Theory, evidence and practice

Abstract:

Economic and Monetary Union (EMU) as embraced by a majority of European Union Member States will leave an historical footprint on European economic history such as will never be seen again. It is without doubt the most important change to the economic environment and its influence will be felt in the lives of ordinary citizens both within the EMU and those remaining independent of the single currency process.

The book is organised in four parts. Part one provides the theoretical background. Part two explores the historical precedent for a single currency and draws on experience in Scandinavia and the recent German monetary union. The third part explores the fiscal and monetary policy consequences which flow from EMU. Part four examines the impact that EMU will have upon external countries and especially the USA.

The book will interest scholars and students of European economics, European studies, international finance or the political economy of Europe.