We analyze the similarities and the differences in the fragility of the European Monetary system (EMS) and the Eurozone. We test the hypothesis that in the EMS the fragility arose from the absence of a credible lender of last resort in the foreign exchange markets while in the Eurozone it was...

Introduction / Daniela Preda -- Opening address / Mario Venturi & Realino Marra -- Lessons from the past : monetary unions in the 19th century Europe / Lara Piccardo -- Robert Triffin et le processus d'integration monetaire europaenne / Ivo Maes -- Le plan werner et la d'couverte d'europe...

This highly topical book examines the development and future prospects for economic and monetary union in Europe. European Monetary Integration examines the background to economic and monetary union from a historical perspective that distinguishes between national and supranational currency...

The performance of EMU member economies is shaped by different and structurally entrenched "growth models" whose success depends on specific macro-regimes – restrictive for export-led growth, accommodating for demand-led growth. These two types of models cannot be equally viable under a...