Economic convergence and monetary union in Europe

"Progress toward monetary union in Europe has been accelerating, and the Maastricht Summit in December 1991 set out the preconditions for a successful union. In the same week as the Summit a group of experts--central bankers, officials and academics--met in London to prepare this book based on their review of progress so far towards economic convergence in Europe and the prospects for ultimate union." "This book is the first substantial overview of the prospects for monetary union in Europe post-Maastricht. It provides careful and thorough analysis for the business, industrial and government communities for whom union, and progress towards it, will be a key factor in their success in the 1990s and beyond. Written in non-technical terms, it is an informative and accessible account of this vital issue." "Experts from the UK, France, Italy and Germany appraise convergence and the preconditions for union. The problems of Greece, Spain and Portugal are addressed by a team from the OECD, and the diverse experiences of Denmark, the Netherlands and Belgium are reviewed. The lessons to be learnt from German Monetary Union are spelt out by a representative of the Bundesbank, and the experience of the Irish links with the UK provides further evidence of the working of monetary linkages. The external role of a European currency is assessed, as well as European cohesion as a whole, relations with the East, and the costs of converting to a common currency." "This authoritative book is essential reading for business, industry and government."--BOOK JACKET.