The Making of Monetary Union: Monitoring European Integration 2 by Damien Neven

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Author
Damien Neven
Publisher
Centre for Economic Policy Research
Date of release
Pages
136
ISBN
9781898128052
Binding
Paperback
Illustrations
Format
PDF, EPUB, MOBI, TXT, DOC
Rating
4
70

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Book review

This Report examines the monetary unification of Europe and the creation of a European Central Bank. It deals first with the macroeconomics of monetary union and highlights four issues. What monetary constitution is required to deliver price stability, and do the draft statutes of the European Central Bank (ECB) meet these conditions? Are fiscal rules a necessary adjunct to such a constitution? Is convergence of inflation rates a precondition for embarking on monetary union? Finally, how should the transition be managed?


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