As European integration continues, the future of EMU becomes ever more important. This book brings together experts to provide an interdisciplinary perspective on future issues for EMU. It explores whether the EMU will strengthen the EU, or prove a hindrance to the EU project. It brings together economists and political scientists to provide a comprehensive view of the future of EMU and to propose solutions to future problems. It also explores the future of the EMU from a policy-oriented as well as an interdisciplinary perspective.Can EMU help create an integrated European community, or will it prove a hindrance to the EU project? This book brings together the experts in the area to provide an interdisciplinary perspective on the issues expected to face EMU over the next few decades
Introduction by Leila Simona Talani 1
1 Some Thoughts on Monetary and Political Union by Paul De Grauwe 9
2 European Fiscal Policy Co-ordination and the Persistent Myth of Stabilization by Erik Jones 29
3 The Role of Preferences and the Sustainability of EMU by Francisco Torres 54
4 Globalization vs. Europeanization: Assessing the Impact of EMU on Business Cycle Affiliation by Michael Artis 75
5 EMU and the Euro-Mediterranean Dialogue: Trade Interdependence between Mediterranean and Euro-area Countries by Giorgio Fazio 89
6 In and Out of Monetary Unions: Lessons From, and Risks For the EMU. An Alternative Approach to Monetary Unions by Antimo Verde 110
7 EMU and the Quest for Competitiveness by Leila Simona Talani 144
8 The Lisbon Strategy, Macroeconomic Stability and the Dilemma of Governance with Governments (Or Why Europe Is Not Becoming the World's Most Dynamic Economy) by Stefan Collignon 161
9 Conclusion: the Future of EMU by Leila Simona Talani 194