The EU is heading towards a monetary union which has both benefits and risks for the Community but will also affect countries outside of Europe. Crucial transition problems, economic adjustment in financial markets and labor markets as well as theoretical and empirical issues of monetary integration are analyzed. The book also focuses on interest rate effects, the role of volatility of money supply growth and exchange rate instability. Issues of monetary and fiscal policy and the political economy of monetary integration are evaluated.
Transition and Long Interest Rates in Germany * Financial Markets and Monetary Policy * Fiscal Aspects of the Maastricht Treaty and Political Economy of Transition * Necessary Amendments for a Functional European Monetary Union * European Monetary Union from a German Perspective.