Abstract
This article explores the development of Economic and Monetary Union in Europe from the Second World War through to the end of 2010. It concentrates primarily on the earlier part of the process and contrasts what has been implemented since 1999 with its antecedents and with the prescriptions suggested by economic theory. It covers the work of the Werner Committee, the European Monetary System (including its Exchange Rate Mechanism), the provisions of the Maastricht Treaty, the Stability and Growth Pact and their implementation.
This chapter was originally published in The New Palgrave Dictionary of Economics, Online edition, 2011. Edited by Palgrave Macmillan
This is a preview of subscription content, log in via an institution to check access.
Bibliography
Ardy, B., I. Begg, D. Hodson, I. Maher, and D.G. Mayes. 2006. Adjusting to EMU. Basingstoke: Palgrave Macmillan.
Artis, M., and M. Buti. 2000. ‘Close to balance or in surplus’: A policy-maker’s guide the implementation of the stability and growth pact. Journal of Common Market Studies 38: 563–591.
Begg, I., D. Hodson, and I. Maher. 2003. Economic policy co-ordination in the European Union. National Institute Economic Review 193: 66–77.
Commission of the European Communities. 1969. Commission Memorandum to the Council on the co-ordination of economic policies and monetary co-operation within the Community, Barre Report. Brussels: Commission of the European Communities.
Commission of the European Communities. 1970. Report to the Council and the Commission on the realization by stages of economic and monetary union in the Community. EU Bulletin, supplement 11, the Werner Report. Luxembourg: Commission of the European Communities.
Commission of the European Communities. 1977. Report of the study group on the role of public finance in European integration, the MacDougall Report. Brussels: Commission of the European Communities.
Commission of the European Communities. 1999. Convergence report 1998. European Economy 65: 23.
De Grauwe, P. 2009. Economics of monetary union, 8th ed. Oxford: Oxford University Press.
Dyson, K., and K. Featherstone. 1999. The road to Maastricht: Negotiating economic and monetary union. Oxford: Oxford University Press.
Emerson, M., D. Gros, A. Italianer, and H. Reichenbach. 1991. One market one money: An evaluation of the potential benefits of forming an economic and monetary union. Oxford: Oxford University Press.
Frankel, J., and A. Rose. 1998. The endogeneity of the optimum currency area criteria. Economic Journal 108: 1009–1025.
Holzmann, H. (ed.). 1996. Maastricht: Monetary constitution without a fiscal constitution. Baden-Baden: Nomos Verlag.
Issing, O. 2002. On macroeconomic policy coordination. Journal of Common Market Studies 40: 345–358.
Kenen, P. 1969. A theory of optimum currency areas: An eclectic view. In Monetary problems of the international economy, ed. R.A. Mundell and A.K. Swoboda. Cambridge, MA: MIT Press.
Ludlow, P. 1982. The making of the European Monetary System: A case study of the politics of the European Community. London: Butterworths.
Mundell, R.A. 1973. A plan for a European currency. In The economics of common currencies, ed. H.G. Johnson and A.K. Swoboda. London: Allen and Unwin.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 2011 The Author(s)
About this entry
Cite this entry
Mayes, D.G. (2011). European Monetary Integration. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_2984-1
Download citation
DOI: https://doi.org/10.1057/978-1-349-95121-5_2984-1
Received:
Accepted:
Published:
Publisher Name: Palgrave Macmillan, London
Online ISBN: 978-1-349-95121-5
eBook Packages: Springer Reference Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences