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Macmillan Higher Education Palgrave Higher Education

Monetary Integration in the European Union

ISBN 9780230542846
Publication Date May 2009
Formats Hardcover Paperback 
Publisher Palgrave Macmillan
Series The European Union Series

The euro has been a remarkable success. By its tenth anniversary in 2009 it had become one of the world's major currencies, rivalled only by the US dollar in usage and global influence. It is used by 320 million people in 16 countries, and these figures look set to rise as, with the exception of Britain and Denmark, all EU member states are obliged to adopt the currency.

This major new text provides a theoretically-informed account of Economic and Monetary Union in the EU. It examines the history of European monetary integration, from its origins in the Bretton Woods Agreements through to the adoption of the euro by the accession states of Central and Eastern Europe. It provides a clear explanation of the key policies and institutions of economic integration and examines the role played by the euro in international markets. While it is informed throughout by the latest research in economics and political science, the book's technical discussion has been kept to a minimum to help make it an extremely readable introduction to European monetary integration.

MICHELE CHANG is Professor in European Political and Administrative Studies, College of Europe (Bruges, Belguim).

The Origins of Economic and Monetary Union
The Birth of the Euro and the Eurozone
The Institutions and Decision Processes of Monetary Union
The European Central Bank
Cooperation Through Consultation: The Stability and Growth Pact and Beyond
The EU Beyond the Eurozone: The UK, Denmark, Sweden and the Accession States
The International Role of the Euro
The Eurozone: An Initial Balance Sheet
Conclusion: EMU and European Integration


"Chang's excellent textbook... [is] a highly useful contribution to the literature. The scope of this book is impressive... a lively account of EMU that both students and academics will enjoy reading..." - David Howarth, JCMS
"[V]ery readable and engaging... It contains, in a manageable volume, all the necessary components of a comprehensive overview of EU economic integration... I did not hesitate to assign [it] to my class..." - Petia Kostadinova, EUSA Review
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