This factual exposition of economic and monetary union in Europe describes both the failed early attempts and the successful effort which together have led to the euro. The book analyses and evaluates the experiment primarily from an economic viewpoint and argues for as clear a distinction as possible between the economic and the political issues in the UK debate. Topics include: context and objectives of European monetary union (EMU); historical antecedents; the (renewed) negotations and preparations for EMU; stage 2 of EMU; economic policy in the revised treaty; the euro and monetary policy; the nature of the euro; the European Central Bank and the European System of Central Banks; external relations of the euro area; notes and coins; and member states not adopting the euro.
