chapter  4
32 Pages

The Making of EMU: Political Economy Explanations of European Monetary Integration

No issue in European integration has raised so many questions and provoked such a thriving academic and intellectual debate as the one concerning European monetary integration. The establishment of a European currency union with the adoption of the Euro as the single currency for millions of EU citizens is arguably the single most important accomplishment of the EU. The monetary union has massive economic, political, and social consequences for the European and international political economy.