The Road to Monetary Union
Part of Elements in Economics of European Integration
- Author: Richard Pomfret, University of Adelaide
- Date Published: March 2021
- availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
- format: Adobe eBook Reader
- isbn: 9781108966269
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The Road to Monetary Union analyses in non-technical language the process leading to adoption of a common currency for the European Union. The monetary union process involved different issues at different times and the contemporary global background mattered. The Element explains why monetary union was attempted and failed in the 1970s, and why the process was restarted in 1979, accelerated after 1992 and completed for a core group of EU members in 1999. It analyzes connections between eurozone membership and Greece's sovereign debt crisis. It concludes with analysis of how the eurozone works today and with discussion of its prospects for the 2020s. The approach is primarily economic, while acknowledging the role of politics (timing) and history (path dependence). A theme is to challenge simplistic ideas (e.g. that the euro has failed) with fuller analysis of competing pressures to shape the nature of monetary union.
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×Product details
- Date Published: March 2021
- format: Adobe eBook Reader
- isbn: 9781108966269
- availability: This ISBN is for an eBook version which is distributed on our behalf by a third party.
Table of Contents
1. Introduction
2. Theories
3. The Werner Report and the Snake
4. The European Monetary System
5. The Maastricht Treaty and creation of the euro
6. The euro expanding
7. The sovereign debt crisis and its aftermath
8. Conclusions.
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