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Economic and Monetary Union at Twenty - A Stocktaking of a Tumultuous Second Decade (Hardcover)
Loot Price: R4,388
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Economic and Monetary Union at Twenty - A Stocktaking of a Tumultuous Second Decade (Hardcover)
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The contributions to this book examine the two main asymmetries of
the Euro Area as they have intensified during the second decade of
Economic and Monetary Union (EMU): the first between monetary union
(more supranational governance) versus 'economic' union (less
centralised governance); the second between those Euro Area member
states of the so-called 'core' and those of the 'periphery'. EMU
stands as one of the European Union's (EU) flagship integration
achievements. Set up in 1999, with the large majority of EU member
states at the time, EMU was described as 'asymmetrical' even prior
to its start. From the outset, it involved asymmetrical integration
in monetary and 'economic' union. Although a major element of the
blueprint that paved the way for the final stage of EMU, the
concept of 'economic' union was insufficiently developed. The
second decade of the single currency gave rise to a second
asymmetry, namely one between those Euro Area member states of the
'core' and those of the 'periphery'. The ten contributions to this
volume speak to one or both of these asymmetries, covering the
major political, political economy and policy dimensions of EMU and
the ongoing debates about necessary policy and institutional
reforms to overcome these asymmetries and bolster Euro Area
stability. The outbreak of the Coronavirus (Covid-19) Crisis in
2020 created unprecedented socio-economic challenges for Euro Area
member states, heightening the perceived urgency of reform. The
chapters in this book were originally published as a special issue
of the Journal of European Integration.
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