This work examines the political economy of exchange-rate policies in the eastward expansion of the eurozone. Analysis shows that prospective members of the EMU are likely to pass on some costs of convergence to the current EMU members. The mechanism is an altered exchange-rate policy that...

This book brings together a wide range of policy experts from both old and new European Union member states, as well as from the US, and presents their insights, observations and research on the future of economic and social models in Europe. This book is an essential companion for all...