The euro and economic and monetary union. An historical, institutional and economic description

This book meets the need for a description of the EU’s economic and monetary union, rooted in the Treaties and the legal texts. It is an invaluable guide to the fundamentals of EMU and an aid to understanding and predicting issues and debates arising in Brussels and Frankfurt. The implications of the proposed European constitution are fully explored.

EMU is given its location in economic and monetary thought and developing notions of central banking as well as in the history of attempts by the EU to find an effective exchange-rate régime. The book answers concrete questions on the rules for public finance, the concept of an excessive government deficit, the current trend of economic policy, the abolition of exchange control, exchange-rate policy for the euro and the Community’s place in the international monetary system. It makes clear what kind of currency the euro is, and above all its grounding in price stability.

This is an essential text for financial practitioners and all libraries, academics and professionals with an interest in economic and monetary affairs.