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This book provides a fully revised and up-to-date analysis of the Economic and Monetary Union (EMU). With four entirely new chapters on responses to the financial crisis and the debate on reform options, Tomann assesses the EMU in comparison with other currency regimes through the adoption of a historical analysis. The book discusses in detail basic issues with currency and comprehensively analyzes monetary policy, highlighting problems of policy coordination. Tomann explores new monetary institutions that have been established in response to the financial crisis, before addressing long-term issues and reviewing reform proposals. By focusing on monetary issues the book offers a better understanding of macroeconomic policies and international policy cooperation, and, by extension, provides a thorough economic assessment of the EMU as an institution as it stands today.

Macroeconomics. --- European Economic Community literature. --- Economic history. --- Economics. --- European Integration. --- Macroeconomics/Monetary Economics//Financial Economics. --- Economic Systems. --- Political Economy/Economic Policy. --- Economic History. --- International economic integration. --- Monetary unions --- Monetary policy --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Currency question --- Money --- Common markets --- Economic integration, International --- Economic union --- Integration, International economic --- Markets, Common --- Union, Economic --- International economic relations --- Monetary management --- Economic policy --- Currency boards --- Money supply --- European Economic Community lite. --- Economic policy. --- Political Economy/Economic Systems. --- Economic Policy. --- Economic conditions --- History, Economic --- Economics --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Economic theory --- Political economy --- Social sciences --- Economic man