Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of...

The success of European monetary integration-what the editors of this CESifo volume call "one of the most far-reaching, real world experiments in monetary policy to date"-is not assured. Policy makers have been forced to deal with challenges posed by formulating a uniform monetary policy for...