Description
This shorter text provides a complete overview of European economic and monetary integration and investigates the euro's impact on Europe and the rest of the global economy. It takes an intuitive approach to explaining the complicated issues regarding the formation of the EMU and the introduction of the euro.
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Stating that economic and monetary integration in Europe is now recognized to have benefited all member countries, Zestos (economics, Christopher Newport U.) provides an overview of the establishment, performance, and economics of monetary union and the euro. He first highlights historical events that created the environment necessary for monetary union and the European Union policies that helped it to transform itself into an "Optimum Currency Area." He then discusses some of agreements and institutions that were implemented in preparation for monetary union, including the Maastricht Convergence Criteria, the Stability and Growth Pact, and the National System of Central Banks. After an exploration of the performance of the euro versus some of the world's major currencies, he concludes with a discussion of whether the 10 countries joining the EU have achieved enough convergence to qualify for membership to the European Monetary Union. Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)
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