Is monetary union a political dream, or the logical culmination of 50 years of gradual economic integration? Are countries prepared for EMU?

Monetary union is expected to take place in 1999 - the conclusion of many years of diplomatic effort and slow economic convergence. This book places the whole issue of monetary union in its wider political and economic context.

The authors discuss:
• The effect of EMU on fiscal and monetary policies
• Central bank independence
• The impact of EMU on unemployment
• ERM II
• International perspectives

Drawing on their experience in the European financial markets, the authors use a non-technical approach to discuss these issues - both in a general sense and with reference to the experiences of specific countries. The work combines recent academic literature with current economic, legal and political developments. As such, it will be a valuable resource for students, and professional economists working in this area.