Books in the Elements in Economics of European Integration series

This Element examines efforts to strengthen Economic and Monetary Union in the European Union, especially over the last decade, asking if enough has been done to render it more sustainable and resilient. Drawing on a survey of 111 leading experts on the economics and politics of EMU, this Element reviews the wide-ranging reforms undertaken since the crises of the early 2010s and assesses whether they go far enough. Although it concludes that much has been done to push the euro towards being a more complete currency, it identifies remaining flaws and challenges which EU leaders need to resolve.

The Element explains in non-technical language why the process of monetary integration in Europe started slowly, progressed in fits and starts in the 1970s, and was successfully concluded in 1999. It analyses the strengths and weaknesses of the euro in the 21st century and its future prospects.