Over the last thirty years or so the developments in the area of monetary and macroeconomic policies have been quite substantial. Within the new consensus macroeconomics (NCM), monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of...

Who were key figures in the making of European monetary union? Which ideas did they contribute to ensuring that monetary union would be sustainable? How prescient were they in identifying the necessary and sufficient foundations of a sustainable monetary union? This book provides the first...

The age of the euro has cast central banks in a newly prominent role in European integration and in macro-economic policy making in Europe. This text examines the effects of the euro as the new European single currency on the central banks of the member states of the European Union