The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact...

The ten countries joining the EU in 2004 will soon be forced to focus on the next big challenge of integration: their adoption of the euro. In this book, well-known economists and policymakers look at the next step in the integration process for accession countries: accession to European...

1. Opening remarks -- 2. Fiscal policies and sustainability of public finances in the European Union -- 3. Fiscal policy challenges, sustainability of public finances and EU accession : the case of Turkey -- 4. Monetary policy in the Euro area : lessons from five years of the ECB and then...