This title provides a comprehensive overview of the development and design of the European Monetary Union, as well as an intriguing discussion of its prospects for future enlargement.

With euro banknotes and coins starting to circulate as of January 2002, this timely book comes at a crucial juncture for the European Union. Exploring the origins of and progress toward the introduction of the euro, the contributors focus on the importance of economic and monetary union (EMU) as part of the larger process of European integration. Thus, chapters consider the value and limits of a range of theoretical approaches for understanding economic and monetary integration, the pros and cons of EMU's institutional design, and country-specific experiences. With an international group of leading scholars representing a range of disciplines, this book offers a broad perspective on the dynamics of EMU.

Eight central and eastern European countries--the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic, and Slovenia--officially joined the European Union (EU) in May 2004. This auspicious milestone marked the beginning of the next major step for these countries in their move toward full integration with the EU-adoption of the euro. Seeking to consider the opportunities and challenges of euro adoption, the papers in this volume--by a noted group of country officials, academics, representatives of international institutions, and market participants-offer insight on the various dimensions of euro adoption in these eight new EU members--how they should prepare, whether an early move is optimal, and what pitfalls may occur along the way.

This key book assesses the international role of the euro, discusses its impact on global financial markets, shifting global exchange rate relationships and their implications. With input from various disciplines, it foments discussions intended to facilitate an exchange of ideas among academics, practitioners and the local business community.

Five centuries after the expulsion of Muslims and Jews from Spain, Europe is once again becoming a land of Islam. At the beginning of a new millennium, and in an era marked as one of globalization, Europe continues to wrestle with the issue of national identity, especially in the context of its Muslim citizens. Muslim Europe or Euro-Islam brings together distinguished scholars from Europe, the United States, and the Middle East in a dynamic discussion about the Muslim populations living in Europe and about Europe's role in framing Islam today. Working at the knotty intersection of cultural identity, the politics of nations and nationalisms, and religious persuasions, this is an invaluable anthology of scholarship that reveals the multifaceted natures of both Europe and Islam.

Describes the economic and capital market results of the institution of the single currency, the euro, in Europe after January 2000. Does it foreshadow increased capital market efficiency and labour migration, huge cross-border mergers and the division of the world into currency blocs?

The Euro and Economic Stability assesses the euro area's merits as a shelter and the merits of euro assets as a safe haven and reviews the case for rapid euro adoption from a post-crisis view. Policymakers and economists provide relevant lessons from euro area divergences for future euro area members and, more generally, from the financial crisis, while banking representatives discuss post-crisis business models of banks in the area. Last but not least, a theoretical introductory chapter fills the gap between mainstream macroeconomic modelling and real-world decision-making. The prime audience for this invaluable book will be economists and other experts in the fields of economic policy and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes. The book is also aimed at readers with a particular interest in the contributions' special regional focus: Central, Eastern and South-Eastern Europe.

It is rare for countries to give up their currencies and thus their ability to influence such critical aspects of their economies as interest and exchange rates. Yet ten years ago a number of European countries did exactly that when they adopted the euro. Despite some dissent, there were a number of arguments in favor of this policy change: it would facilitate exchange of goods, money, and people by decreasing costs; it would increase trade; and it would enhance efficiency and competitiveness at the international level. A decade is an ideal time frame over which to evaluate the success of the euro and whether it has lived up to expectations. To that aim, Europe and the Euro looks at a number of important issues, including the effects of the euro on reform of goods and labor markets; its influence on business cycles and trade among members; and whether the single currency has induced convergence or divergence in the economic performance of member countries. While adoption of the euro may not have met the expectations of its most optimistic proponents, the benefits have been many, and there is reason to believe that the euro is robust enough to survive recent economic shocks. This volume is an essential reference on the first ten years of the euro and the workings of a monetary union.

The 2010 edition of OECD's periodic review of the Euro area economy. This edition includes chapters covering exiting from the crisis, resolving unsustainable imbalances, rebuilding public finances and fiscal discipline and minimising risks from imbalances in European banking.

Annotation The main objective of this report is to outline key policy issues that need to be addressed in order to achieve energy sector reform at the national and regional levels.