Economic and Monetary Union

This accessible text on economic and monetary integration provides readers with a comprehensive look at the evolution of the eurozone, from its beginnings in fixed exchange rate systems through the sovereign debt crisis. It examines why the EMU was created, what went wrong to bring about the global financial crisis, and why countries were affected so differently. Using theories drawn from economics and political science, this book provides readers with an up-to-date analysis of the recent reforms undertaken, grounded in a long-term perspective of the trajectory of European integration.

Introduction 1. History of Economic and Monetary Union 2. Monetary Integration 3. The European Central Bank 4. Financial Integration and Banking Union 5. Fiscal Policy Coordination 6. Economic Policy Coordination 7. The Euro Outs: A View from the Outside 8. EMU and the World Conclusion