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EMU and Economic Policy in Europe

The Challenge of the Early Years

Edited by Marco Buti and André Sapir

EMU is a completely new policy regime which has significant economic implications and which, it is hoped, will ultimately enhance the role of Europe on the world stage. EMU and Economic Policy in Europe takes stock of the initial experiences of EMU and assesses the challenges which will have to be addressed in the early years of its existence to ensure its long-term objectives are successfully achieved.
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This volume owes much to Giovanni Ravasio, Director-General of Economic and Financial Affairs of the European Commission at the time its preparation started. We are grateful for his constant support. We are also indebted to Antonio Cabral, Director of the Economies of Member States, Hervé Carré, Director of the Euro Area and Jan Host Schmidt, Director of the Economic Evaluation Service, all three of the European Commission, for their encouragement and their comments during the course of this project. We are indebted to Maarten van de Stadt and Pieter Karel Havik for research assistance, to Cristina Recchia for editorial help, and to Maria Davi-Pilato, Yunga Demeure and Aliki Drossou for secretarial support. xix

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