Now that the process of full implementation of European Monetary Union has begun, it is time to shift attention away from the process of introduction to the implications that the common currency will have for a wide range of institutions and policy areas. The wider political and social institutions of the European Union are not well developed there is an institutional deficit which parallels the more widely know democratic deficit. Monetary arrangements of nation states are imbedded in a range of political, cultural, economic and historical factors. Will mechanisms of these kinds eventually develop at the European level? Can national structures adapt to meet the challenge? The contributors to After the Euro tackle these questions and in doing so, take the debate beyond the economic and sovereignty questions which have so far dominated the debate.
Introduction: The Political and Institutional Deficits of Monetary Union ; The Unanticipated Fallout of European Monetary Union: An essay on the Political and Institutional Deficits of the Euro ; The Political Economy of the EU Financial Integration: The Battle of Systems ; Who wins and Who Losses in the City of London From the Establishment of European Monetary Union ; The Joy of Flux: What Europe May Learn form North America's Preference for National Currency Sovereignty ; The Pericles Paradigm, the Coase Theorem and Berlin's Pluralism in European Institutions ; Policies, Institutions and the Euro: Dilemmas of Legitimacy ; The Role and Status of the European Central Bank: Some Proposals for Accountability and Co-operation ; National Wage Determination and European Monetary Union ; Fiscal Federalism and the Reality of the EU Budget
