Economic and Monetary Union in Europe

Moving beyond Maastricht

Bibliographic Data

ID9820101
AuthorsRichard N Cooper (corresponding author), Peter B Kenen, Peter Β Kenen (Princeton University)
Year1996
Volume75
Issue2
Pages145
Publication date1996-01-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueForeign Affairs (JOURNAL)
Journal identifiersISSN: 0015-7120 • E-ISSN: 2327-7793
PublisherJSTOR (PUBLISHER)
DOI10.2307/20047507
OpenAlexW2033493129
LanguageEN
Citations received13

This book provides a comprehensive account and analysis of the plan for European monetary union contained in the Maastricht Treaty. The provisions of the treaty itself are examined, showing how they evolved, what must be done to implement them, and some of the problems they will pose. Kenen goes far beyond the treaty, however, to survey and adapt recent research by economists on the benefits and costs of monetary unions, the conduct of monetary policy, and the consequences of large public deficits and debts. The European exchange-rate crises of 1992 and 1993 are analyzed, as well as their impact on the prospects for monetary union and the problems they pose for implementation of the Maastricht Treaty. The author makes specific proposals to handle the transition to a single currency, integrate the existing central banks into a single system, and modify parts of the treaty itself. The implications of European monetary union for the international monetary system in the mid-to-late 1990s are also considered

Currency · Debt · Economic and monetary union · Economics · European debt crisis · European integration · European union · International economics · International trade · Maastricht Treaty · Macroeconomics · Monetary hegemony · Monetary policy · Political science · Treaty · European Monetary and Fiscal Policies · Global Financial Crisis and Policies · Law

Tools

Open DOISci-Hub