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EMU and Economic Policy in Europe. The challenge of the Early Years

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524 pages
EMU and Economic Policy in Europe The Challenge of the Early Years Edited by Marco Buti European Commission and André Sapir EMU and Economic Policy in Europe 'All the economists who have contributed to this volume are both distinguished scholars and active participants in the policy debate. Over the years, they have greatly helped policymakers, at the national and Union levels, to identify and understand the difficult policy choices involved in the running of EMU. I am grateful for their contribution to the success of the euro.' - From the foreword by Pedro Solbes EMU is a completely new policy regime which has significant economic implications and which, it is hoped, will ultimately enhance the role of Europe on the world stage. EMU and Economic Policy in Europe takes stock of the Initial experiences of EMU and assesses the challenges which will have to be addressed in the early years of its existence to ensure its long-term objectives are successfully achieved. Bringing together leading scholars and policymakers, the book considers some of the most pertinent and significant issues surrounding the euro from a variety of different perspectives. These include the behaviour of monetary and fiscal authorities, the implications for policy co-ordination, the impact of the euro on financial markets and the consequences of EU enlargement.
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EMU and Economic
Policy in Europe
The Challenge of the Early Years
Edited by Marco Buti
European Commission and André Sapir EMU and Economic Policy in Europe
'All the economists who have contributed to this
volume are both distinguished scholars and active
participants in the policy debate. Over the years,
they have greatly helped policymakers, at the
national and Union levels, to identify and
understand the difficult policy choices involved
in the running of EMU. I am grateful for their
contribution to the success of the euro.'
- From the foreword by Pedro Solbes
EMU is a completely new policy regime which
has significant economic implications and
which, it is hoped, will ultimately enhance the
role of Europe on the world stage. EMU and
Economic Policy in Europe takes stock of the
Initial experiences of EMU and assesses the
challenges which will have to be addressed in
the early years of its existence to ensure its
long-term objectives are successfully achieved.
Bringing together leading scholars and
policymakers, the book considers some of
the most pertinent and significant issues
surrounding the euro from a variety of different
perspectives. These include the behaviour of
monetary and fiscal authorities, the implications
for policy co-ordination, the impact of the euro
on financial markets and the consequences of
EU enlargement.
The distinguished array of authors have
produced a comprehensive and balanced
assessment of the initial economic and
policy challenges facing EMU. European
policymakers,financial economists and
anyone with an interest in the process of
European integration will benefit from
reading this accomplished book. EMU and Economic Policy in Europe To Giovanni Ravasio EMU and Economic
Policy in Europe
The Challenge of the Early Years
Edited by
Marco Buti
Group of Policy Advisors, European Commission
André Sapir
Group of Policy Advisors, European Commission and
EC A RES, Université Libre de Bruxelles, Brussels, Belgium
PUBLISHED ON BEHALF OF THE COMMISSION OF
EUROPEAN COMMUNITIES
Edward Elgar
Cheltenham, UK · Northampton, MA, USA © European Communities, 2002
All rights reserved. No part of this publication may be reproduced, stored in a
retrieval system or transmitted in any form or by any means, electronic,
mechanical or photocopying, recording, or otherwise without the prior
permission of the publisher.
The views expressed are purely those of the authors and may not, and in any
circumstances, be regarded as stating an official position of the Commission
of European Communities.
Published by
Edward Elgar Publishing Limited
Glensanda House
Montpellier Parade
Cheltenham
GlosGL50 1UA
UK
Edward Elgar Publishing, Inc.
136 West Street
Suite 202
Northampton
Massachusetts 01060
USA
A catalogue record for this book is available from the British Library
Library of Congress Cataloguing in Publication Data
EMU and economic policy in Europe: the challenge of the early years/
edited by Marco Buti, André Sapir,
p. cm.
Published on behalf of the Commission of European Communities.
Includes index.
1. Economic and Monetary Union. 2. European Union countries—
Economic integration—History—20th century. I. Title: Economic and
Monetary Union and economic policy in Europe. II. Title: European y Union and c policy in . III. Buti, Marco.
IV. Sapir, André.
HG930.5.E47 2003
337.Γ42—dc21 2002072161
ISBN184376152 1
EUISBN92­894­3305­1 Cat. number: KC­42­02­723­EN­C
Publications Office
Publications.eu.int
Printed and bound in Great Britain by MPG Books Ltd, Bodmin, Cornwall