The countdown for establishing economic and monetary union (EMU) in Europe has started and the countries of the European Union are practically on automatic pilot. Nevertheless, some nagging questions still have to be addressed concerning the design of the project and the possibility that, if not...

[From the Introduction]. On March 13, 1991, the European Monetary System (EMS) celebrated its twelfth birthday with a sense that the system, originally launched by French President Valery Giscard d'Estaing and West German Chancellor Helmut Schmidt, had progressed much further toward...

[From the Introduction]. What are the major issues involved in our topic? The questions are: first, given that there is a "Europe 1992", the creation of a Single European market (SEM) in the real sector, what, if any, are, or must be, the implications for the monetary sector. Second, whether and...