European Monetary Upheavals

Abstract

The European Monetary System was thrown into disarray by the speculative crises from September 1992 to August 1993. The consequent widening of the permitted bands of fluctuation from 2.25% to 15% has added to the uncertainty in the European economic environment and cast doubt on the strategy for monetary unification set out in the Maastricht Treaty. This book provides a response to the new situation from a variety of economic perspectives. It includes analyses of the upheavals themselves, separate chapters on monetary policy in France, Germany and the UK, and discussions of implications for the future. The papers are written by academic contributors from the USA and Europe as well as the UK. The book also includes a panel discussion in which economists from national and international institutions debate the future of European monetary integration.

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