Monetary union in Europe. Historical perspectives and prospects for the future

Abstract:

The papers featured in this book arose from a conference held in Copenhagen on 10 December 2004, to honour Niels Thygesen on the occasion of his 70th birthday and to mark his contribution to the process of European monetary cooperation.

The book is organised in five parts. Part one deals with the limiting of exchange rate fluctuations and offers an overview and interpretation of the experience with the European Monetary System (EMS) and the Exchange Rate Mechanism (ERM). Part two deals with the first five years of the Eurosystem, asking ‘how has EMU worked?’ and looking at the ECB’s monetary policy strategy. The third part explores the fiscal framework of the EMU against the background of the crisis for the Stability and Growth Pact. Part four discusses the framework needed to secure financial stability, and part five examines the implications of Europe’s experience with monetary unification for other regions, specifically East Asia.

The work will interest scholars, students, economists and researchers engaged in the fields of European Union studies and European monetary policies.

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