European Monetary Integration

  • Emmanuel Mourlon-DruolEmail author
Reference work entry


This chapter analyzes the process of monetary integration in Europe between 1945 and 1992, when the Treaty of Maastricht introduced the euro as the single currency of most member states of the European Union (EU). It introduces the main theories used in dealing with the monetary integration of Europe and provides the institutional and global context in which the discussions took place. It analyzes the different types of monetary integration that Europe used and debated, including the use of the unit of account, the debate over the introduction of a parallel currency, the exchange rate coordination, and the creation of a single currency. It finally presents the different phases of the creation of the euro.


European Unit of Account (EUA) Exchange Rate Mechanism (ERM) European Monetary System (EMS) European Currency Unit (ECU) Parallel currency Euro 


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© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  1. 1.Adam Smith Business SchoolUniversity of GlasgowGlasgowUK

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