When I wrote my book on EMU four years ago (Kenen 1995), very little had been written on the international dimensions of EMU. There was a chapter in the Commission's path-breaking study (European Commission, 1990). There were papers by Alogoskoufis and Portes (1991, 1992), Cooper (1992),...

The launching of the EURO not only affects the members of EURO-Land, but it also affects the potential new member countries such as Central and Eastern European countries as well as some countries in Europe, Africa and French territories such as Monaco, San Marino, Vatican, Andorra, Mayotte,...