Acceso usuarios
Patrick Crowley, Robin Rowley
It is generally accepted that European Economic and Monetary Union (EMU) is driven mainly by political rather than economic forces, although the economics literature in this area has focused largely on the economic dimensions rather than the interaction between economic and political factors. This paper explores the interaction between the political driving forces behind further integration in Europe and the perceptions of economic benefits to be derived by Member States. It evaluates the various configurations that could result from EMU, and how these may impact on other activities of the EU. Also, the paper considers the design of fiscal and monetary policy for a monetary union and the consequent development of community institutions.
