Introduction

This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book provides the inspiration for others to develop a different approach which can solve many of the issues but in a different way. It seeks to make a contribution to the development of a viable alternative, within the Eurozone, through outlining the main features of a potential John Maynard Keynes approach to Economic and Monetary Union (EMU). The book begins by drawing upon this material to develop a critical evaluation of the current new monetarist version of EMU. It establishes the fundamental flaws inherent within the current model that have directly resulted in its underperformance. The book seeks to build upon this alternative model of EMU by examining how monetary policy, fiscal policy and the European Social Model could be re-engineered to support the version of EMU. It examines the potential for revitalising the European Social Model within the Euro-ICU approach.