This book depicts the European Economic and Monetary Union against the historical background of different monetary regimes and pays special attention to the economic debate which accompanied the evolution of this currency area. The debate is still going on as to whether the European Economic and Monetary Union can survive as an institution providing the highest degree of monetary integration - a single monetary policy - for a group of member countries with divergent economic performance. The analysis of this question points at the need for new forms of economic policy coordinaton.
This book explores the problems of policy coordination that arise within a monetary union and provides an overview of the basic issues and current controversial debates. The book is an excellent resource for academics with an interest in the European Economic and Monetary Union, and in economic policy coordination within Europe.