European Monetary Integration: from the European Monetary System to Monetary Union

This book provides an analysis of the history of European monetary union, from the early days of the European Payments Union following the collapse of the Bretton Woods System in the 1960s to the current debate about the desirability of a single currency and a European Central Bank. The authors assess the record so far and suggest the likely timetable for monetary union in Europe with an analysis of the costs and benefits of the various options. It includes analysis of monetary reform in Eastern Europe and an appendix on monetary union in Germany. It is aimed at students of international and monetary economics and European integration as well as at professional economists.