The debt crisis in several member states of the euro area has raised doubts on the viability of European Economic and Monetary Union (EMU) and the future of the euro. While the launch of the euro in 1999 stirred a lot of interest in regional monetary integration and even monetary unification in...

This chapter discusses the declared exchange-rate policies of East Asian central banks and compares these with the de facto policies. Central banks that officially proclaim a fixed or managed exchange rate tend to intervene more in foreign exchange markets than central banks which officially...