Political and economic consequences of Economic and Monetary Union : taking stock of the first eight years

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Bibliographic Information

Political and economic consequences of Economic and Monetary Union : taking stock of the first eight years

Amy Verdun, editor

Nova Science Publishers, c2007

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Revised versions of papers presented at a conference at the University of Victoria on Aug. 18-19, 2005

Includes bibliographical references and index

Description and Table of Contents

Description

With the creation of Economic and Monetary Union (EMU) in the European Union (EU), now eight years ago, it is time to start to look back and reflect on the time that has passed and the challenges and opportunities that lie ahead. Created on 1 January 1999 with banknotes and coins introduced into the marketplace on 1st of January 2002 EMU has been heralded by many as an unprecedented success of economic and monetary integration. Many have focused on the sheer size of the project: twelve European Union member states introduced banknotes and coins in 2002 as legal tender replacing their previous national currencies, many of which had been around for centuries. As of 1st of January 2007 Slovenia is the newest country to join. Another remarkable feat was the fact that a new European Central Bank (ECB) was created to formulate a single monetary policy for the eurozone. At the same time EMU leaves responsibility for budgetary and fiscal policies to national governments who still decide the level of expenditure and of

Table of Contents

  • Preface
  • Has EMU Made Germany Worse- Off? Monetary Aggregates, Fiscal and Wage Policy in the New Regimec
  • Plus Ca Change ? The European Social Model between 'Economic Governance' and 'Social Europe' from the Maastricht Treaty to the European Constitution
  • States and the Exercise of Power in the New European Union
  • Rotation, Representation or Rather a Ragged Reform? On the Political Economy of ECB Restructuring
  • Progressing towards Legitimacy: Financial Services Sector Policymaking in the EU after Lamfalussy
  • Making Sense of Fiscal Rules in EMU
  • The Art and Craft of Budgeting: Fiscal Policy in the Eurozone
  • Direct Taxation, the ECJ and Implications for Member State Budgets
  • Index.

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