The failure of key EU Member States to respect the requirements of the Stability and Growth Pact (SGP) a few years after its inception triggered a heated debate on how to reform the framework of fiscal policy coordination in the Economic and Monetary Union (EMU). This paper systematically...

The paper analyses different aspects of the role that the euro is currently playing in sub-Saharan Africa (SSA) and in the CFA franc zone of West and Central Africa. As similar contributions on the role of the euro in other global regions, it served as background information for the analysis of...

Though it is generally accepted that the introduction of the euro is a business issue, its impact on information technology (IT) is tremendous. Since the mutual dependency of business and IT is crucial and undeniable, company management must consider both the business and IT aspects of euro...

The European Union is now in the final phase of a journey into Economic and Monetary Union which began more than ten years ago. Monetary Union became a reality on 1 January 1999; since then the euro has been the currency of eleven Member States according to the blueprint laid down by the Treaty of...

The fiscal theory of the price level has challenged the conventional view of that monetary factors drive prices and exchange rates and has also provided a rationale for fiscal restrictions in a monetary union. This paper extends the main results of this theory in the context of an open monetary...

The Swedish referendum on the euro in September 2003 is an exceptional event for researchers of monetary unions and of European economic integration. Voters chose between maintaining the domestic currency, the krona, and replacing it with the euro, the single currency of the European Union. The...

This paper reviews theoretical and empirical aspects of the interaction between Europe's Economic and Monetary Union and recent labour market developments. Policies meant to increase and stabilize labour incomes also tend to reduce employment and productivity, theory suggests that the latter...

The thesis of this paper is that there is no historical precedent for Europe's monetary union (EMU). While it is possible to point to similar historical experiences, the most obvious of which were in the 19th century, occurred in Europe, and had “union†as part of their names, EMU...