Description
Book SynopsisThis book provides an up-to-date analysis of some of the key issues facing the European Union on the (potentially rocky) road towards monetary union and enlargement. A wide range of topics is covered from a diverse and critical perspective.
After addressing general questions concerning the deepening and widening of European integration, the authors include theoretical and empirical analyses of the implementation of EMU and its feasibility. They also consider convergence and development within the European Union, and the lessons to be learnt from the Nordic enlargement, as well as the experience of the Southern periphery. While the economic dimension is pervasive, the development of European Monetary Union will also be highly dependent on internal political developments and inter-member bargaining.
Table of ContentsContents: Introduction Part I: Is Europe Ready for EMU? 1. The European Monetary Union in transition 2. Configurations and prospects for European integration and monetary unification 3. The EMS interest rates 4. Expected devaluations in the ERM 5. Stability of a monetary union Part II: Policy and Political Aspects of European Integration 6. Value-added tax and the internal market in the EU 7. Greek agriculture under the CAP 8. Economic integration and development 9. Primary convergence and European monetary integration 10. Capital flows, foreign exchange reserves and aggregate demand Part III: Lessons from the Nordic Enlargement and the Experience of the Southern Periphery 11. Swedish integration with the European Union 12. Did the ERM stabilize real exchange rates?
