The Spanish economy has undergone an unprecedented period of growth since the country's entry into the EU. This volume provides a detailed and comprehensive assessment of its performance in the 1990s, which places this growth in context and examines Spain's future prospects of successfully qualifying for European Economic and Monetary Union. The book analyzes recent structural changes in the Spanish economy and macroeconomic performance, as well as developments in government policy. It also contains detailed empirical studies of recent reforms in the labour market, changes in industry, and the effects of privatization.

A detailed analysis of the economic effects of the changeover to a unified European currency and the pressures caused by a dual-currency system over the transition period to the Euro. Subjects discussed include:
* fiscal transfer payments: the implications of the US structure for the EMU
* consequences of parallel currency 1999-2002
* feasibility of a single currency without the exchange rate mechanism
* the relationship between the UK and Europe
* accounts of moves towards monetary union in Austria, Portugal and Finland.