The Bank: the birth of Europe’s Central Bank and the rebirth of Europe’s power.

Book abstract:

This book provides an account of the creation of the European Central Bank (ECB) based partly on the author's access to its board members and top level executives. The operations of the ECB and its prospects for the future are also examined. This is a revised version of the book with a new first chapter examining the developments since the beginning of the single currency in January 1999. Also examined is the euro's effect on the bond market and the intervention strategy of the ECB in buying euros and selling dollars to boost the euro artificially. The book also provides a wider perspective by looking at the impact of the bank on Europe's place in the world and on financial centres such as the City of London.

The book begins with five chapters outlining the creation of the ECB with particular attention to the Dutch, German and French. The book continues with a chapter on the process of selection of the first president of the ECB, Wim Duisenberg. The way in which the bank operates and the responsibilities of the bank are then examined followed by a chapter on the reasoning behind the bank's monetary policy strategy and its first interest rate cut. The book then looks at how the ECB will have a role in creating greater political union This is followed by a chapter on those countries who are yet to join the ECB with particular attention on the United Kingdom. The book concludes with ideas as to the future of the ECB.

The book would be suitable for the academic community. Matt Marshall was previously the Wall Street Journal's correspondent in Bonn before leaving to write this book.