Overview

The project of monetary union is of vital strategic importance for Europe, but the design of the project is faulty. Key political and economic weaknesses have been emphasized during the debate but European political elites appear to have imposed the formulae of Maastricht essentially in an unchanged form. This dossier emphasizes three problems: the lack of democratic legitimacy for European monetary policy; the highly restrictive nature of the macroeconomic regime that has been installed; and the absence of Europe-wide mechanisms to ensure financial stability. It is suggested that these weaknesses in EMU go a long way towards an explanation of persistent euro depreciation.

Full Product Details

Author:   John Grahl
Publisher:   Kogan Page Ltd
Imprint:   Kogan Page Ltd
Dimensions:   Width: 13.50cm , Height: 0.40cm , Length: 21.60cm
Weight:   0.088kg
ISBN:  

9780749436254

ISBN 10:   0749436255
Pages:   64
Publication Date:   01 July 2001
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Book
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

1. Overview of the single currency since January 1999; 2. The issue of democracy; 3. The issue of growth; 4. The issue of financial stability.

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Author Information

John Grahl is Professor of Global Business Management at UNL Business School. He is a specialist in European integration and has published widely on questions of European political economy. His most recent book is After Maastricht; A guide to European monetary union, Lawrence and Wishart, 1997.

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