A Concise History of European Monetary Integration: From EPU to EMU

A Concise History of European Monetary Integration: From EPU to EMU

A Concise History of European Monetary Integration: From EPU to EMU

A Concise History of European Monetary Integration: From EPU to EMU

Synopsis

Ungerer provides a comprehensive, yet concise and accessible history of European monetary integration over the past half century, from the European Payments Union (EPU) to the realization of Economic and Monetary Union (EMU) as mapped out by the Maastricht Treaty. Monetary integration is essential to the completion of a single market and the realization of and closer political cooperation in Europe. Ungerer demonstrates this point while giving readers the only up-to-date account and analysis of European monetary integration currently available. The book will be an important resource not only for scholars and students of European economic and political integration, but also for professionals in a wide range of fields within international business and finance.

Excerpt

This book grew out of lectures on the history of European monetary integration that I presented at universities and other academic institutions in the United States and in Europe over the past few years. When it came to making reading suggestions, I realized that there was hardly a single book covering developments from the end of World War II to the present in a comprehensive, yet concise and accessible, way. With this book, I try to close that gap.

More than 30 years of service in the Deutsche Bundesbank and the International Monetary Fund allowed me to witness and to become involved in many phases of European monetary integration and accorded me the privilege of meeting many of the principal actors. While I have been "pro-European" since my days in school and at university -- no doubt strongly affected by my own war experience -- my attitude on European monetary integration has been influenced greatly by working for those financially conservative institutions.

In addition to the many highly informative, and often groundbreaking, official reports and documents, there exists a plethora of excellent books, articles, and conference papers on European monetary integration, and I feel deeply indebted to their authors, many of whom I got to know personally over the years. In this book, I attempt to provide a concise history of European monetary integration that focuses on policy and institutional developments over the past 50 years -- from the European Payments Union to the present efforts to turn the Maastricht blueprint for an economic and monetary union in Europe into reality. Moreover, the book . . .

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