The Euro

The Euro

Its Origins, Development and Prospects

Chris Mulhearn and Howard R. Vane

This important new book provides a non-technical, comprehensive overview of the central issues surrounding the euro. Following an introduction to the origins of European integration, the authors proceed to examine the first concrete steps in the process that led to the creation of the euro area. The book then explores the economics and architecture of the euro, highlights the issues surrounding enlargement, and reflects on the future of European monetary union. To help bring the subject matter alive, the book also contains interviews with leading academics in the field including Willem Buiter, Nick Crafts, Paul De Grauwe, Patrick Minford, Niels Thygesen, Andrzej Wojtyna and Charles Wyplosz.

Preface

Chris Mulhearn and Howard R. Vane

Subjects: economics and finance, financial economics and regulation, international economics, money and banking

Extract

Today, university economics students and their teachers can refer to a number of established texts on the economics of monetary union. Given their intended audience, these books are inevitably quite detailed and technically demanding. The main intention behind the present volume is to provide a non-technical but comprehensive overview of the central issues surrounding the euro. Our book is primarily aimed at intermediate undergraduates taking courses not just in economics, but also in business studies, modern economic history, politics and international relations. It should also prove useful to postgraduate students in these disciplines in their preliminary year of study. Our approach in writing the book is intended to allow students on a range of degree courses to read individual chapters in isolation, according to their interests and needs. Having said this, the book follows a structured path by tracing the origins, development and prospects for the euro. After an introductory chapter on the origins of European integration we examine the first steps in the process of monetary integration (Chapter 2), the economics of the euro (Chapter 3), the euro’s architecture (Chapter 4) and euro-area enlargement issues (Chapters 5 and 6), before reflecting on the future of the euro (Chapter 7). Reading individual chapters in isolation can detract from the bigger picture. To help overcome this potential problem we have included a time line of key events in the history of European economic, monetary and political integration. This provides the reader with a useful point of reference, as does the...