An Introduction to the Law of Economic and Monetary Union
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An Introduction to the Law of Economic and Monetary Union

Alberto Saravalle

This incisive book is an accessible guide to the laws and policies relating to economic and monetary union (EMU). Providing a rich, multidisciplinary analysis, it combines historical, legal and economic perspectives to offer a detailed understanding of how EMU has developed since its inception and how it works in practice today. This book will be a valuable reference for those teaching and studying advanced courses on EU law, as well as courses that cover the economic history of EU integration.
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Chapter 9: Eurexit

Alberto Saravalle

Abstract

Chapter 9 considers the possibility of a Member State leaving the monetary union to return to its national currency. It first retraces the heated debate that has surrounded this topic over the past decade. It then presents a thorough analysis of the various theoretical scenarios (total withdrawal from the EU, negotiated withdrawal from the euro area, withdrawal from the euro area due to a fundamental change of circumstances, and a forced exit) and a critical view of the chances for each of these scenarios to come to pass in practice.

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