- Preface
- New to this edition
- List of figures
- List of boxes
- List of tables
- List of contributors
- List of abbreviations
- Guided Tour of Online Resource Centre
- 1. Introduction
- Part 1 The Historical Context
- 2. The European Union: Establishment and Development
- 3. From the Constitutional Treaty to the Treaty of Lisbon and Beyond
- Part 2 Theories and Conceptual Approaches
- 4. Neo-functionalism
- 5. Intergovernmentalism
- 6. Theorizing the European Union after Integration Theory
- 7. Governance in the European Union
- 8. Europeanization
- Part 3 Institutions and Actors
- 9. The European Commission
- 10. The European Council and the Council of the European Union
- 11. The European Parliament
- 12. The Court of Justice of the European Union
- 13. Interest Groups and the European Union
- Part 4 Policies and Policy-making
- 14. Policy-making in the European Union
- 15. EU External Relations
- 16. Enlargement
- 17. The European Union’s Foreign, Security, and Defence Policies
- 18. The Single Market
- 19. The European Union’s Social Dimension
- 20. The Area of Freedom, Security, and Justice
- 21. Economic and Monetary Union
- 22. The Common Agricultural Policy
- 23. Environmental Policy
- Part 5 Issues and Debates
- 24. Democracy and Legitimacy in the European Union
- 25. Public Opinion and the European Union
- 26. The Euro Crisis and European Integration
- 27. The Future of the EU
- Glossary
- Appendix—Brexit supplement
- Bibliography (Brexit supplement)
- References
- Index
(p. 295) 21. Economic and Monetary Union
- Chapter:
- (p. 295) 21. Economic and Monetary Union
- Author(s):
Amy Verdun
- DOI:
- 10.1093/hepl/9780198708933.003.0021
This chapter examines the Economic and Monetary Union (EMU), focusing on its key components and what happens when countries join. EMU has been an integral part of European integration since the early 1970s. Member states agreed that there should be economic and monetary convergence prior to launching EMU. However, there are some member states (such as the UK) that did not want to join EMU. The chapter first explains what economic and monetary policy is before discussing various theoretical explanations, both economic and political, accounting for why EMU was created. It also considers some criticisms of EMU and how EMU has fared under the global financial crisis and the sovereign debt crisis. It concludes by reflecting on what the future of the European Union will be with EMU in place.
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- Preface
- New to this edition
- List of figures
- List of boxes
- List of tables
- List of contributors
- List of abbreviations
- Guided Tour of Online Resource Centre
- 1. Introduction
- Part 1 The Historical Context
- 2. The European Union: Establishment and Development
- 3. From the Constitutional Treaty to the Treaty of Lisbon and Beyond
- Part 2 Theories and Conceptual Approaches
- 4. Neo-functionalism
- 5. Intergovernmentalism
- 6. Theorizing the European Union after Integration Theory
- 7. Governance in the European Union
- 8. Europeanization
- Part 3 Institutions and Actors
- 9. The European Commission
- 10. The European Council and the Council of the European Union
- 11. The European Parliament
- 12. The Court of Justice of the European Union
- 13. Interest Groups and the European Union
- Part 4 Policies and Policy-making
- 14. Policy-making in the European Union
- 15. EU External Relations
- 16. Enlargement
- 17. The European Union’s Foreign, Security, and Defence Policies
- 18. The Single Market
- 19. The European Union’s Social Dimension
- 20. The Area of Freedom, Security, and Justice
- 21. Economic and Monetary Union
- 22. The Common Agricultural Policy
- 23. Environmental Policy
- Part 5 Issues and Debates
- 24. Democracy and Legitimacy in the European Union
- 25. Public Opinion and the European Union
- 26. The Euro Crisis and European Integration
- 27. The Future of the EU
- Glossary
- Appendix—Brexit supplement
- Bibliography (Brexit supplement)
- References
- Index
