Assessment of exchange-rate arrangements has become an integral feature of recent
discussions on reform of the international financial architecture. The upshot of this recent …

This chapter argues that monetary integration must precede, rather than follow, monetary
unification, in order to avoid the occurrence of structural and systemic crises. It briefly …

With the establishment of the euro, many commentators have drawn positive lessons from
European monetary union for monetary integration in other parts of the world. This paper …

One of the most important economic policy issues is the selection of exchange rate regime.
The possible choices range from the hard peg to a freely floating nominal exchange rate …

This book examines the monetary integration of the group of countries which constitute the
Economic and Monetary Union (EMU), signalling the emergence of a truly European …

Finland will most likely be the only Nordic country to join the first stage of European
Monetary Union (EMU) if it begins on schedule in 1999. In the autumn of 1994, the voters of …

Sažetak In the first place this paper considers the monetary politics of Eurosystem. Secondly,
the monetary politics strategy of the European Central Bank (ECB) is analysed, emphasizing …

Despite the economic and political success of its launch, the challenges ahead for the euro
are formidable. This article analyses some of these challenges, focusing particularly on the …

With the onset of European monetary integration eventual euro area membership was
associated with several positive effects that were expected to have improved the long-term …

The euro was ten years old in 2008. To celebrate this important birthday the European
Commission produced a 350-page report (European Commission, 2008), accompanied by a …