The Road to Monetary Union in Europe The Emperor, the Kings, and the Genies [Paperback]

This is an indispensable guide to the processes that led to the creation of the European single market and the signing of the Maastricht Treaty. The new edition has been expanded to assess the economic, monetary, political, and institutional significance of the euro. It also reconsiders the rationale and underlying philosophy of EMU in the light of the developments of the past decade.

Introduction: What Went Right? The Emperor, the Kings, and the Genies
1. Rules and Institutions in Multi-Country Economies
2. Capital Mobility: Why is the Treaty not Implemented?
3. Lessons from the European Monetary System
4. The ECU's Coming of Age
5. After the Single European Act: Efficiency, Stability, and Equity
6. The EMS is not Enough: The Need for Monetary Union
7. The Delors Report: From Intentions to Action
8. Monetary Union and Competition
9. Fiscal Compatibility and Monetary Constitution
10. Monetary Union and Political Union
11. On the Eve of Maastricht
12. After the Storm

Tommaso Padoa-Schioppais a member of the Executive Board of the European Central Bank. Previously he was affiliated to the Bank of Italy and the European Commission, and was Secretary of the Delors Committee.